• Cayman Islands Tax Information Authority Act
• Tax Information Authority (International Tax Compliance) (United States of America) Regulations (2021 Revision
• Cayman Islands Tax Information Authority (International Tax Compliance) (Common Reporting Standards) Regulations (2021 Revision
• CRS guidelines
• FATCA guidelines
• CRS enforcement guidelines
• DITC Portal User Guide

CRS and FATCA Amendment Regulations, CRS Reportable Jurisdictions now available:

The Department for International Tax Cooperation (DITC) advises industry that the Amendments to the CRS & FATCA Regulations were approved by Cabinet on 18 February 2020 and take immediate effect:

• Tax Information Authority (International Tax Compliance) (Common Reporting Standard) (Amendment) Regulations, 2020
• Tax Information Authority (International Tax Compliance) (United States of America) (Amendment) Regulations, 2020

Additionally, industry is advised that the updated list of 2022 CRS Reportable Jurisdictions was published in Extraordinary Gazette No. 24 of 2023:

• 2022 CRS Reportable Jurisdictions

Please note the following:

• The annual reporting deadline for CRS & FATCA is changed to 31st July. However, the reporting deadline for the 2019 reporting period is extended to 18 September 2020 due to development of the new DITC Portal.
• The requirement for the Authorising Person (AP) and Principal Point of Contact (PPoC) to be an individual has been removed. A guidance note reflecting the impact of the “Institutional User” can be found on the DITC News & Updates page.
• With the latest release of the DITC Portal User Guide (April 2023) the ITA has confirmed that also the Secondary User can be an Institutional User. Before this update to the DITC portal only individuals could act as Secondary Users.

Any questions may be emailed to – DITC.Portal@gov.ky 

Click here for the official Government update. 
 

• AEOI Alert - March 2023
• Cayman Islands Tax Alert DITC Portal launched 
• Cayman Islands Tax Alert - 2019 AEOI Deadlines Extended 
• Latest AEOI updates - CRS Compliance Form & FATCA deadline extended
• Cayman Islands and the EU List of Non-Cooperative Tax Jurisdictions - Blacklist Update 

• Mutual Legal Assistance (Tax Matters) Order, 2015
• Mutual Legal Assistance (Tax Matters) (Amendment) (No. 2) Act, 2015 (“CRS law”) as amended by the Mutual Legal Assistance (Tax Matters) (Amendment) Act, 2018
• Mutual Legal Assistance (Tax Matters) Order, 2015
• CRS guidance
• FATCA guidance
• BVIFARS User Guide and Updated BVIFARS User Guide
  

On March 11^th, 2023 the BVI tax authority clarified that all FIs must provide a US TIN for all their reportable US account holders. If a valid US TIN is not available, FIs must use one of the TIN codes specified by the IRS in the updated Q6. of the Reporting section on the FAQs page on the IRS website.

The Press Release clarifies the process that will be put in motion when an FI uses TIN codes.

The BVI tax authority has announced that a BVIFARS Portal fee will apply to all the entities that need to register on the portal for FATCA, CRS or CbCR purposes. The intended fee is intended to cover enrolment in the portal, review, and transmission of reporting submissions to partner jurisdictions, support, and maintenance.