The Cayman Department for International Tax Cooperation (DITC) on 31 July 2017, released an updated version (v2.1) of guidance notes to help financial institutions on aspects of the common reporting standard (CRS) that are specific to the Cayman Islands and that address certain aspects of the CRS regulations.
The DITC announced that the AEOI portal will continue to accept late registrations or variations before the reporting deadline of 31 August 2017. Cayman financial institutions need to consider completing the necessary registration or variation, and proceed to submit the returns to avoid further potential penalties.
Read an August 2017 report [PDF 61 KB] prepared by the KPMG member firm in the Cayman Islands
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