October 23, 2019

Cayman Islands gives FIs until July 31, 2019 to file FATCA and CRS reports

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By Aureon Herron-Hinds & Tamarah Francois-Peek From RSM Cayman Islands has announced that it will accept Cayman FATCA and CRS reports (which were originally due on May 31, 2019) through July 31, 2019 and that these late returns will not be subject to any adverse consequences for late filing. The announcement provides much needed relief for Cayman […]

Cayman Islands financial institutions to face new CRS reporting thresholds, self-cert requirements

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From MNE Tax By Denise M. Hintzke  &  Douglas Scott, Deloitte Tax LLP While many of the world’s tax compliance professionals rightly focused on completing Cayman FATCA/CRS reporting before the reporting portal was temporarily taken offline on Friday, June 1, recent substantive changes to other aspects of the Cayman compliance regime slipped under the radar […]

Cayman Islands: Q&A with Bradley Kruger: The offshore perspective on blockchain and cryptocurrencies

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Ogier From Lexology Cayman Islands January 15 2018 Bradley Kruger is a partner in Ogier’s Cayman team, and heads the firms Caribbean and Asia corporate practice. In this Q&A he explores the offshore perspective on blockchain and crypto-currencies. What do offshore jurisdictions offer Crypto currency innovators that onshore jurisdictions don’t? The benefits are the same […]

Cayman Islands co-operation puts clients first

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From Executive Global As global strides towards transparency start to become a reality, beneficial owners around the world have recognised the growing attractiveness of a Cayman Islands corporate address or asset domicile, now that information sharing between governments becomes the rule rather than the exception. While it is quite clear that the OECD-inspired, trend towards […]

Cayman Islands provides final extension for US FATCA & CRS reportin

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From RSM The Cayman Islands have recently extended the filing deadline for Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS) reports to Aug. 31, 2017. This new one month extension marks the last time the Cayman government will provide an extension for FATCA and CRS reporting. Previously, Cayman Financial Institutions (CFI’s) had […]

Cayman Islands AEOI Portal for CRS Notification and FATCA Reporting Is Open: Several Deadlines Have Been Extended

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By Harold Adrion From Eisner Amper The Cayman Islands Department for International Tax Cooperation has opened its Automatic Exchange of Information Portal (AEOI Portal) for notifications for the Common Reporting Standard (CRS) and FATCA reporting. It has also released a revised user guide. All Cayman Islands Financial Institutions with CRS reporting obligations are required to […]

WSJ: IRS Using New Tools to Find If You Are Hiding Money Overseas

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By F McGuire From Newsmax The Internal Revenue Service reportedly is getting better at finding secret stashes of overseas cash. As a result of the government’s prying eyes, “tax evaders are receiving harsher penalties than ever, including prison,” The Wall Street Journal reported. Since a crackdown began in 2009, more than 55,800 people have paid […]

Caribbean Collateral Damage of U.S. National Security Policy

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By Richard Bernal Senior Associate (Non-resident), Americas Program From Center for Strategic and International Studies The United States is the main economic partner of the countries in the Caribbean. These small developing countries are long-standing friends and consistent allies. In spite of transnational crime and narcotics transiting the air and sea space, they have maintained […]

Caribbean fraud talks on next week

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By Nadaleen Singh From The Guardian T&T Five per cent of annual revenue earned by companies internationally disappears as a result of fraud. This comes from Jerome Chambers, director, Global Forensic Institute (GFI) in T&T, who quoted from the 2016, Ninth Report on Occupational Fraud and Abuse which was produced by the Association of Certified […]

Cayman Islands survey reveals most prepared for FACTA

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A recent survey carried out on 105 respondents from the financial services industry suggested that most are well prepared for the FATCA regime in the Cayman Islands. The survey was carried out by local consulting firm FTS during the period March 9th to 19th and provided some interesting insights into how those working in the […]