The Cayman Islands Department for International Tax Co-operation
(DITC) issued an advisory on 8 February 2021
reminding industry of the first year deadlines for economic
substance filings.
The DITC's online portal now has full functionality for
economic substance filings and the deadlines are as follows:
Entities tax resident in another jurisdiction
For entities reporting on a financial period ending between 31
December 2019 and 29 February 2020, which claim to be tax resident
in another jurisdiction, the deadline is 28 February
2021 (irrespective of which relevant activity is being
carried on).
For such entities reporting on a financial period ending on or
after 1 March 2020, the deadline is 12 months after the
period end date.
