345 results found

DMS Executive Director Kathleen Celoria appeared on Fox Business on December 30th and discussed with Deidre Bolton (Fox Business Risk & Reward) the reporting requirements to the IRS for foreign financial institutions, as FATCA takes effect.

On the 18th February 2020, the European Council (the ‘EC') adopted a revised list of non-cooperative jurisdictions for tax purposes.

The registration deadline of 31 July, 2017 for both CRS and FATCA registrations has now passed. Financial Institutions that missed the deadline need to focus on completing their registration...

On 6 October 2020, the EU affirmed that it considers the Cayman Islands to be a fully cooperative jurisdiction for tax purposes.

It is greatly disappointing that two of our financial services firms helped US citizens to engage in illegal activity by evading their tax responsibilities.

The media is advised that the Cayman Islands Automatic Exchange of Information (AEOI) Portal is open as of 4:15 p.m. on Friday, 20 March 2015.

In a keenly anticipated development the Cayman Islands was removed from the EU list of non-cooperative tax jurisdictions (the "EU blacklist") on 6 October 2020 after adopting reforms relating to...

The European Council announced on 18 February 2020 that the Cayman Islands has been added to the EU's list of non-cooperative jurisdictions in tax matters (Annex I).

Cayman Islands financial institutions that are affected by the CRS should be actively preparing for CRS compliance noting that the new account opening procedures should be in place for 1 January 2016.

The Cayman Islands Tax Information Authority (TIA) released an updated version of the Economic Substance guidance notes (Version 3) on July 13, 2020.

Pursuant to an industry advisory dated 29 May 2018, the DITC has made announcements with respect to the availability of the AEOI Portal over the coming months and with respect to...

The Common Reporting Standard ("CRS") is the Organisation for Economic Co-operation and Development's ("OECD") global standard for the automatic exchange of financial account information to combat offshore tax evasion

The Cayman Islands Tax Information Authority (the "TIA") has confirmed that notifications may be submitted on or before 21 May 2015 and that returns may be reported on or before 12 June 2015.

Walkers has recently worked with ICLG to create a Private Client guide exploring the jurisdiction of the Cayman Islands for 2021.

The Cayman Islands Department for International Tax Cooperation has issued an Industry Advisory to update the relevant dates for reporting under the Foreign Account Tax Compliance Act and the Common Reporting Standard.

In a positive development for the jurisdiction, EU ministers have removed the Cayman Islands from their blacklist of ‘non-cooperative jurisdictions for tax purposes'.

On July 24, Luxembourg Tax Authorities announced an additional one month extension of the filing deadline for the first FATCA reporting.