Cayman Islands Consults on CbC Reporting

According to recent reports, the Cayman Islands Ministry of Financial Services, Commerce and Environment has launched a consultation with industry stakeholders on the introduction of Country-by-Country (CbC) reporting requirements. The proposed CbC reporting requirements would reportedly apply for fiscal years beginning on or after 1 January 2016 for MNE groups meeting an annual consolidated group revenue threshold of EUR 750 million (USD 850 million threshold also being considered). In line …