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...
Cayman continues to deliver on tax transparency.
As well as the developments related to AIFMD and FATCA, Cayman recently announced the signature of its 31st tax information exchange agreement (TIEA).
This agreement, signed on March 19 with Brazil, is an important milestone, given that Brazil is a rapidly growing economy which already has significant financial ties with Cayman.
According to the Ministry of Finance, in 2011, capital flows from global investors channelled through Cayman investment funds into Brazil totalled US$17 billion.
This latest TIEA followed hard on the heels of one with Italy, signed in January of this year.