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Cayman Islands: Update to Reportable Jurisdictions list announced
Fund Services

Cayman Islands: Update to Reportable Jurisdictions list announced

The Cayman Tax Information Authority (TIA) issued an advisory confirming an update to the Reportable Jurisdictions list, dated 17 May 2019 and gazetted on 14 June 2019, which can be found here. This list, which contains two new Reportable Jurisdictions, applies to filings made for the calendar year 2018. We strongly recommend that clients review this list to ensure that all reportable accounts have been identified and filed accordingly.

Enhanced AML supervisory powers given to CIMA under money laundering legislation

Enhanced AML supervisory powers given to CIMA under money laundering legislation

Under recent changes to the Cayman Islands Anti-Money Laundering Regulations, the powers of the Cayman Islands Monetary Authority (CIMA), as the supervisory authority for anti-money laundering in the Cayman Islands, have been enhanced to allow CIMA to obtain information in relation to any relevant financial business from a broader category of persons than was previously the case.

Cayman Islands: FATCA and CRS reporting deadline extended to 31 July 2019 and confirmation of CRS Reportable Jurisdiction list

Cayman Islands: FATCA and CRS reporting deadline extended to 31 July 2019 and confirmation of CRS Reportable Jurisdiction list

Cayman Islands reporting Financial Institutions have been given until 31 July 2019 to complete their FATCA and CRS reporting for the 2018 calendar year without the fear of further action by government authorities, the Cayman Islands government announced last week.

EU confirms BVI and Cayman Islands co-operation on tax

EU confirms BVI and Cayman Islands co-operation on tax

The European Union has confirmed that the British Virgin Islands and Cayman Islands have not been included on the EU’s updated list of non-cooperative jurisdictions for tax purposes (known as the EU blacklist), which was published on 12 March 2019.