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...
Further to our last newsletter, the Department of International Tax Cooperation (“DITC”) issued a further advisory confirming a final extension of both the notification and the reporting deadlines in respect of US FATCA and UK FATCA to 2 September 2016.
The notifications and reporting by Reporting Financial Institutions are done through the Cayman Islands AEOI Portal (http://tia.gov.ky/).
Notification and returns submitted on or before Friday 2 September 2016 will not attract any adverse compliance consequences or enforcement measures. If you have yet to make a notification or reporting of returns this should be done out as soon as possible to avoid and/or minimise any potential enforcement measures.