Most Popular Article in Cayman Islands, April 2016
The Cayman Islands Department of International Tax Cooperation
(DITC) has advised that it has extended the notification and
reporting deadlines for both UK CDOT and US FATCA for 2016.
Notifications are now due by Friday, June 10, 2016 and returns
should be submitted by Friday, July 8, 2016. There will be no
adverse consequences or sanctions, once compliance is met within
this time frame.
DMS Can Help
Should you need assistance with US FATCA and/or UK CDOT
compliance, DMS can take the compliance responsibilities off your
hands and provide a full-service solution to meet your
Our International Tax Compliance Group will:
Classify your entities and structures
to determine the FATCA and CRS obligations andanalyze the
availability of reporting exemptions.
Register and obtain Global
Intermediary Identification Number ("GIIN") from the IRS
and complete any other registration or notification with local
Review governing documents and
subscription documents to determine the adequacy of disclosures
Prepare and review IRS Forms and
Prepare and review the policies and
procedures as set forth in the Regulations
Act as Principal Point of
Contact/AEOI Officer/Responsible Officer to oversee and ensure
compliance with all aspects of the regulations in the respective
Review and approve third party
investor classification, including relevant agreements with these
Undertake classification and
remediation of your investor base.
Prepare and file the reports in the
Consult on technical and operational
aspects of these international tax information regulations.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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Maltese tax law provides for rules which grant beneficiaries referred to as ‘Highly Qualified Persons' to be taxed at a reduced rate of tax of 15% on their employment income, provided certain conditions are satisfied.
Non-U.S. individuals making direct investments in the United States face a bewildering U.S. tax regime.
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