The Cayman Islands Department of International Tax Cooperation
(DITC) has again extended the notification and reporting deadlines
for both UK CDOT and US FATCA.
Notifications and reports are now due by Friday, September 2,
2016. There will be no adverse consequences or sanctions, once
compliance is met by this date. The DITC has granted this latest
extension due to issues that users have encountered with the AEOI
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
DMS Can Help
Our International Tax Compliance Group will:
Classify your entities and structures to determine the FATCA
and CRS obligations and analyze the availability of reporting
Register and obtain Global Intermediary Identification Number
("GIIN") from the IRS and complete any other registration
or notification with local authorities.
Review governing documents and subscription documents to
determine the adequacy of disclosures provisions.
Prepare and review IRS Forms and Self-Certifications.
Prepare and review the policies and procedures as set forth in
Act as Principal Point of Contact/AEOI Officer/Responsible
Officer to oversee and ensure compliance with all aspects of the
regulations in the respective jurisdiction.
Review and approve third party investor classification,
including relevant agreements with these third parties.
Undertake classification and remediation of your investor
Prepare and file the reports in the respective
Consult on technical and operational aspects of these
international tax information regulations.
For further information, please contact your usual DMS
professional, any member of the DMS ITC Group, or email: ITC@dmsoffshore.com
DMS International Tax Compliance Group is a dedicated,
specialist team of attorneys, accountants and compliance experts
devoted to serving investment structures in complying with their
obligations under FATCA, CRS and other international tax compliance
Our diverse team is versed in international tax compliance
matters, having undertaken hundreds of FATCA engagements for a wide
range of funds, covering multiple jurisdictions. DMS ITC Group
maintains strong relationships with local tax authorities, as we
constantly monitor regulatory changes on behalf of our clients.
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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On September 30, 2016, the VAT authorities confirmed that VAT shall apply to directors' fees.
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