Cayman Islands: High-value accounts must be identified | KPMG | GLOBAL

Cayman Islands: High-value accounts must be identified by 31 December

Cayman Islands: High-value accounts must be identified

The first common reporting standard (CRS) return to be filed with the Cayman Islands Tax Information Authority is not due until 31 May 2017.


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However, Cayman Islands financial institutions need to be aware that all "pre-existing high-value individual accounts" (those with an aggregate balance or value greater than U.S. $1 million as of 31 December 2015) must be reviewed for purposes of identifying any “reportable accounts” by 31 December 2016.


Read a November 2016 report (PDF 134 KB) prepared by the KPMG member firm in the Cayman Islands

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