On August 30, 2021, the Cayman Department for International Tax Cooperation posted an Updates Bulletin with three key reminders

On June 3, 2021, the Cayman DITC published an Updates Bulletin that includes details related to the Foreign Account Tax Compliance Act (FATCA), the Common Reporting Standard (CRS), and Economic Substance (ES) Reporting. In addition to minor reporting updates, the DITC stresses the importance of compliance in this area, as certain defenses previously accepted from FIs will not be allowed this year. FIs should strongly consider revisiting their FATCA and CRS classifications and

The BVI Financial Account Reporting System (BVIFARS) Portal is open.