close
Share with your friends

Cayman Islands: Updated FATCA and CRS guidance

Cayman Islands: Updated FATCA and CRS guidance

The Department for International Tax Cooperation (DITC) of the Cayman Islands in early March 2020 announced amendments to regulations concerning the FATCA and common reporting standard (CRS) regimes.

1000

Related content

The amendments:

  • Extend the annual reporting deadline for FATCA and CRS to 31 July (from 31 May)
  • Remove a requirement that an “authorising person” and “principal point of contact” must be an individual

Other guidance provided reflects that the reporting deadline for the 2019 reporting year under the FATCA and CRS regimes is extended to 18 September 2020, and includes a list of “frequently asked questions” (FAQs) concerning the new portal.


Read a March 2020 report [PDF 79 KB] prepared by the KPMG member firm in the Cayman Islands

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal