In the November 13 2014 issue of Global Tax Weekly, DMS Director Peter Stafford discusses the practical implications of GATCA and outlines what Reporting Financial Institutions (RFIs) should do to comply with its requirements and avoid any sanctions that come with non-compliance.

On January 7, 2022, the European Commission adopted a draft regulation adding the Cayman Islands to its list of countries with strategic deficiencies in their AML/KYC regimes.

While we do not expect to see significant new areas of regulation being introduced in 2022, existing regulatory regimes will continue to develop.

Further to our last update in relation to the extension of deadlines for both notification and reporting by Reporting Financial Institutions ("Reporting FIs") through the Cayman Islands AEOI Portal ("Portal"), the Department of International Tax Cooperation has issued a further advisory confirming the extension of the notification deadline to 29 May 2015 and the reporting (of US Reportable Accounts) to 26 June 2015.

The Cayman Islands Department of International Tax Cooperation (the "DITC") has announced that it will be taking a soft approach to enforcement of the 2016 UK CDOT and US FATCA notification and reporting obligations.

The Cayman Islands Department for International Tax Cooperation (DITC) has advised that Cayman financial institutions (CFIs) ...

All Cayman Financial Institutions (CFIs) must register with the Department of International Tax Cooperation for CRS (or vary their existing FATCA/UK CDOT registration) by 31 July 2017.

The Government of the Cayman Islands and Brazil have signed a tax information exchange agreement.

A reminder that the deadline for FIs to register and report to the Tax Information Authority is two weeks away.

Good news - the DITC in Cayman has extended the CRS reporting deadline to the end of August.

On May 11th 2015, the Cayman Islands Department for International Tax Cooperation announced that Notifications may now be submitted on or before Thursday, 21 May 2015; and that returns may be reported on or before Friday, 12 June 2015.

The Cayman Islands Department of International Tax Cooperation has extended the deadlines for Cayman Reporting Financial Institutions (RFIs) to provide notification and reporting and to the Tax Information Authority for U.S. FATCA Reportable Accounts.

The penal withholding tax provisions of FATCA are making it difficult for US citizens to do business with foreign (non-US) financial institutions

In this Q&A Nigel Porteous and Alex Way provide an overview of private client law and policy as it relates to the law in the Cayman Islands.

On 7 December 2015 the Cayman Islands Tax Information Authority published a list of 95 participating jurisdictions pursuant to The Tax Information Authority (International Tax Compliance) (Common Reporting Standard) Regulations, 2015...

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...

The Cayman Islands Department for International Tax Cooperation has announced updates regarding the AEOI regime.

With the 15 September deadline to appoint a designated US Partner Representative around the corner, do you know who your partnership will choose?

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

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...