The Department for International Tax Cooperation of Cayman Islands issued an industry advisory notice extending the reporting deadline for filing US FATCA/CRS returns to 31 August 2017.
According to the tax authority, this will be the final extension of the reporting deadline because the AEOI portal will be taken offline on 31 August 2017 in order to prepare the portal for the transmission of common reporting standard (CRS) returns to the OECD Common Transmission System by 30 September 2017.
In addition, all reporting Cayman financial institutions and trustee-documented trusts are advised to submit a CRS filing declaration, even if they have no reportable accounts.
Further, the deadline for all Cayman financial institutions to register, or vary their existing US FATCA/UK CDOT registration, for CRS on the AEOI portal, even if they have no reporting obligations is 31 July 2017.
Read a July 2017 report [PDF 63 KB] prepared by the KPMG member firm in the Cayman Islands
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