Department for International Tax Cooperation

News & Updates

FRAMEWORKS

Common Reporting Standard

The Common Reporting Standard (CRS) is the global standard for the automatic exchange of financial account information for tax purposes.

Foreign Account Tax Compliance Act

The Foreign Account Tax Compliance Act (FATCA) is the mechanism for reporting information on financial accounts held by US persons to the US Internal Revenue Service (IRS).

Economic Substance

The Cayman Islands Economic Substance (ES) Law contains the rules for satisfying the international standard for substantial activities requirements.

Country-by-Country Reporting

Country-by-Country Reporting (CbCR) implements the requirements of Action 13 of the OECD/G20 BEPS actions. CbC Reports are filed by certain multinational enterprises with domestic tax authorities.

Exchange of Information on Request

Exchange of Information on Request (EOIR) is a key component of international tax cooperation.