Cayman Islands Issues Guidance on Preparations for the Launch of the CbCR Portal including Extended Deadlines

The Cayman Islands Department for International Tax Cooperation (DITC) has announced guidance on preparations for the launch of its Country-by-Country reporting (CbCR) portal. CbC reporting requirements apply in the Cayman Islands for reporting fiscal years of MNE groups beginning on or after 1 January 2016 ({News-2018-02-02/A/2-previous coverage}).

The main points of the guidance include:

• The process for the submission of notifications on the CbCR portal is a two-part process:
  • In Part 1, …