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Tag: FATCA

Old CDOs fall outside scope of CRS

Old CDOs fall outside scope of CRS

| 14/12/2015 | 0 Comments

(CNS Business): As Cayman implements the OECD’s Common Reporting Standards (CRS), compliance teams working in structured finance will have taken a collective sigh of relief last week, as “old and cold CDOs” were exempted from CRS reporting obligations. The Department for International Tax Competition (DITC) also announced the 95 jurisdictions that will participate with Cayman […]

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Cayman AEOI Portal now live

Cayman AEOI Portal now live

| 23/03/2015 | 0 Comments

(CNS Business): On Friday 20 March at 4:15pm the Cayman Islands officially opened the doors to the Automatic Exchange of Information (AEOI) Portal to report tax information to other jurisdictions. The Financial Services Ministry has announced the AEOI Portal is now available for financial institutions to register and report customer data to the Tax Information Authority […]

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Cayman’s tax exchange portal ready to run

Cayman’s tax exchange portal ready to run

| 14/03/2015 | 0 Comments

(CNS Business): After months of preparation, the exchange of tax information from the Cayman Islands to other jurisdictions will become more efficient with the launch of a new online system. The Automatic Exchange of Information (AEOI) Portal will be launched this month and will be used by Cayman’s financial institutions to comply with their reporting obligations under intergovernmental […]

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There’s no hiding from Uncle Sam

There’s no hiding from Uncle Sam

| 13/03/2015 | 2 Comments

(CNS Business): Even if you’re living in the Cayman Islands, the US tax authorities can come knocking on your door if you are not in compliance with the Foreign Account Tax Compliance Act (FATCA), US taxpayers residing in the Cayman Islands learned at a free seminar on Wednesday at the Caribbean Club. The free informational meeting, […]

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Seminar to help US tax payers

Seminar to help US tax payers

| 03/03/2015 | 0 Comments

(CNS Business): A free seminar designed to help US taxpayers residing in the Cayman Islands will be held on 11 March. This informational meeting called, “Navigating US Tax Requirements and Strategic Methods of Coming into Compliance”, will explain the most recent US tax filing and reporting requirements under FATCA, as well as how to report […]

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Cayman releases V2 FATCA Guidance Notes

Cayman releases V2 FATCA Guidance Notes

| 18/12/2014 | 0 Comments

(CNS Business): Just days away from the 22 December deadline for many financial institutions to register with the US tax authorities to obtain their Global Intermediary Identification Number (GIIN) by 1 January 2015, the Cayman Islands Tax Information Authority has issued Version 2 of the FATCA Guidance Notes, which clarified some of the issues raised […]

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Swiss Bank exits FATCA programme

Swiss Bank exits FATCA programme

| 15/12/2014 | 5 Comments

(CNS Business): Barclays Bank’s Swiss operations is ending its cooperation with the Internal Revenue Service’s efforts to prevent investors from investing money in foreign countries with more amenable tax structures and policies. During a Zurich speech, Barclays bank executive Francesco Grosoli announced that the firm’s Swiss operations had “recently exited the program”, after evaluating its legal […]

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DMS to hosts offshore funds summit in Brazil

DMS to hosts offshore funds summit in Brazil

| 11/11/2014 | 0 Comments

(CNS Business): DMS Offshore Investment Services (DMS) will host its 4th Annual Offshore Investment Funds Summit in São Paulo, Brazil, on 18 November. The firm said that this year’s summit will focus on the opportunities and challenges for Brazilian asset managers seeking to raise capital offshore, and developments in the local market with investment diversification […]

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Panton signs latest global information exchange deal

Panton signs latest global information exchange deal

| 29/10/2014 | 1 Comment

(CNSBusiness): The Cayman Islands government joined more than 50 countries Wednesday, when it signed the latest agreement to tackle global tax evasion. Wayne Panton, the financial services minister, signed on the dotted line of the OECD’s Multilateral Competent Authority Agreement (MCAA) in Berlin, the latest worldwide standard for automatic exchange of information (AEOI) among tax […]

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IRS warns IFIs of FATCA scams

IRS warns IFIs of FATCA scams

| 26/09/2014 | 0 Comments

(CNS Business): The Internal Revenue Service today issued a fraud alert for international financial institutions complying with the Foreign Account Tax Compliance Act (FATCA). Scam artists posing as the IRS have fraudulently solicited financial institutions seeking account holder identity and financial account information. The IRS said it does not require financial institutions to provide specific […]

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Commentary: FATCA and the rush to register

Commentary: FATCA and the rush to register

| 14/07/2014 | 0 Comments

The plethora of recent regulation means that clients are now well versed in deploying technology to address compliance concerns. Unfortunately, many opted to pursue point solutions for each regulatory thread and are now looking at integration projects to bring it all together, writes Chris Eaton, Executive Vice President, Blue Bison Software.

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