CbCR
FAQs
Notifications
What is the Notification deadline for CbCR?
The deadline for Notification, or to update an existing Notification in respect of any subsequent Fiscal Year, is before the end of that relevant Fiscal Year.
Do I have to submit a Notification each year?
No, this is a one-off process.
How do I update my Notification to show the correct UPE / SPE details?
The Primary Contact should email the DITC Portal Team and provide details of the new UPE / SPE.
How do I update my Constituent Entity list?
The Primary Contact should login to the DITC Portal and upload an amended Authorisation Letter and Constituent Entity CSV file.
Reporting
Who is required to submit a CbCR Report?
A Reporting Entity (UPE or SPE) must be resident in the Islands in order to make a CbC Report for its MNE Group via the DITC Portal.
What Multinational Enterprises are in scope for CbCR?
CbCR only applies to MNE Groups with annual consolidated group revenue of not less than a specified threshold amount in the preceding fiscal year. The Cayman Islands has specified the threshold as US$850 million, but other jurisdictions may specify the threshold in Euros (€750 million). Further information can be found in the CbCR Guidance Notes.
What is the Reporting deadline for CbCR?
The deadline for Reporting in respect of any subsequent Fiscal Year is within 12 months of the end of that relevant Fiscal Year.
When can I submit my CbC Report?
Once the reporting functionality becomes available on the DITC Portal you may submit your report.
Can I submit test returns?
Testing is not permitted within the DITC Portal.
What information should be included in my CbC Report?
The CbC Report provides a breakdown of the amount of revenue, profits, taxes and other indicators of economic activities for each tax jurisdiction in which the MNE Group does business. An updated CbC XML Schema – User Guide will be available on the DITC Portal once the reporting functionality becomes available. This will provide further details.
Do you offer templates that may assist in completing my Notification and Reporting obligations?
The DITC offers a template for the Authorisation Letter and Constituent Entity CSV file. At this time the DITC does not offer a sample XML file for reporting. An updated CbC XML Schema – User Guide for guidance on creating XML will shortly be available to users on the DITC Portal.
General
What is a Reporting Entity?
A Reporting Entity is the MNE Groups’ reporting member, typically the Ultimate Parent Entity (UPE) or the Surrogate Parent Entity (SPE).
How do I change the Primary Contact?
The Primary Contact can be changed on the DITC Portal. Refer to the DITC Portal User Guide for guidance on how to change the Primary Contact.
How do I change my password?
The Primary Contact can request to reset their password on the homepage of the DITC Portal.