Cayman Islands Issues 3rd Version of CRS Enforcement Guidelines
In July 2022, the Cayman Islands Tax Information Authority (TIA) issued Version 1.2 of its CRS Enforcement Guidelines which replaces the...
top of page
Search
Elizabeth A. McMorrow
Jul 29, 2022
BVI Makes CRS P&Ps A Legal Requirement
The British Virgin Islands (BVI) International Tax Authority (ITA) recently announced legislative amendments which require a Financial...
Elizabeth A. McMorrow
Dec 21, 2021
Singapore Increased FATCA/CRS Penalties
Singapore recently increased the penalties for both FATCA and Common Reporting Standard (CRS) non-registration and non-filing offenses....
Elizabeth A. McMorrow
Sep 13, 2021
Guernsey FATCA & CRS: Onsite Visits & Independent Inspectors
On September 13, 2021, the Guernsey Revenue Service (GRS) posted FATCA and CRS legislative and regulatory changes stemming from the July...
Elizabeth A. McMorrow
Jun 22, 2021
Isle of Man FATCA/CRS Penalties
The Isle of Man announced Financial Institutions (FIs) who miss the FATCA and CRS reporting deadline will be liable to an initial late...
Elizabeth A. McMorrow
Jun 14, 2021
Mauritius Alert: CRS Common Errors May Result in Penalties
The Mauritius Revenue Authority (MRA) recently issued two communiques regarding Common Reporting Standard (CRS) reporting errors and...
Elizabeth McMorrow
Jul 22, 2020
Perfect Internal Processes But Still at High Risk
FATCA 2014. CRS 2016. Your organization has studied the rules for these regimes and employees know exactly what needs to be done. You’re...
Elizabeth McMorrow
May 6, 2020
No Policies & Procedures Could Cost You US$100K
Many tax authorities around the world have slowed down due to the pandemic but the British Virgin Islands International Tax Authority...
Elizabeth A. McMorrow
May 15, 2019
CRS: Mauritius Increases Monetary Penalties
Mauritius issued new regulations on April 23, 2019 that amend the Income Tax (Common Reporting Standard) Regulations 2018. The new...
Elizabeth A. McMorrow
Dec 26, 2017
New Filing Requirement for LLCs & U.S. Foreign Grantor Trusts
As of January 1, 2017, U.S. Limited Liability Companies (“LLCs”) that are wholly owned, directly or indirectly, by one foreign person,...
Elizabeth A. McMorrow
Aug 17, 2017
FATCA & CRS: Perfect Reporting Process But Still Non-Compliant
Reporting is almost over and you can take a breath. You followed FATCA, IGA, CDOT and CRS requirements in your reporting and due...
Elizabeth A. McMorrow
Jan 12, 2017
CRS: New Cayman Criminal Sanctions
Recently released Cayman Islands Common Reporting Standard (CRS) Regulations added significant criminal enforcement sections which...
bottom of page