Clients are reminded of the following important filing dates for Financial Institutions (FIs) under the CRS and FATCA Regime and Economic Substance regime filings with the Tax Information Authority in the Cayman Islands. Additionally, clients are...
On 1 January 2019, the Cayman Islands introduced The International Tax Cooperation (Economic Substance) Act, 2018 and on 12 February 2020 The International Tax Co-operation (Economic Substance) (Amendment) Act, 2020 came into force together with The International Tax Co-operation (Economic Substance) (Amendment of Schedule) Regulations, 2020 (altogether, the “Law”). The Law has been issued in response to the Cayman Islands’ commitment to the global initiative to combat base erosion and profit shifting.