Cayman Islands: Updated FATCA and CRS guidance

Updates related to the FATCA and common reporting standard (CRS) regimes

Updates related to the FATCA and common reporting standard (CRS) regimes

The Department for International Tax Cooperation (DITC) of the Cayman Islands in February 2022 issued updates related to the FATCA and common reporting standard (CRS) regimes.

The updates include the following.

  • The DITC portal now includes a feature to deactivate a financial institution if the entity ceases to exist or is no longer a Cayman reporting financial institution.
  • The DITC portal has made certain technical changes for submitting previously reported CRS data to align better with the Organisation for Economic Co-operation and Development (OECD) user guide.
  • The CRS reportable jurisdictions list for the 2021 reporting period has been updated to add Jamaica, Kenya, and Morocco, and remove Kuwait for the reports due in 2022.

Read a February 2022 report [PDF 121 KB] prepared by the KPMG member firm in the Cayman Islands

 

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