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ARTICLE · 10 SEPTEMBER 2024

Are You Ready To File Your CRS Compliance Form?

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Cayman Islands entities classified as reporting financial institutions (Reporting FIs) under the Common Reporting Standard (CRS) framework are required to file their CRS compliance form by 16 September 2024...

Cayman IslandsTax
Simon Raftopoulos
Simon Raftopoulos
Menelik Miller
Menelik Miller
Miriam Smyth
Miriam Smyth
Maree Martin
Maree Martin
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Cayman Islands entities classified as reporting financial institutions (Reporting FIs) under the Common Reporting Standard (CRS) framework are required to file their CRS compliance form by 16 September 2024 using the Cayman Islands Department for International Tax Cooperation (DITC) online portal.

Background

The Tax Information Authority (International Tax Compliance) (Common Reporting Standard) Regulations 2015 implements CRS requirements on an international basis under Cayman Islands law. The CRS framework (in particular, the CRS reporting framework) represents a globally coordinated approach whereby income earned by individuals and entities is disclosed for tax transparency purposes.

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