The Ministry of Financial Services, Commerce and Environment of the Cayman Islands released last week an industry consultation on the draft Country-by-Country Reporting Regulations (CbCR Regulations), to be made pursuant to the Tax Information Authority Law (2016 Revision).

CbCR is an aspect of the OECD/G20 Base Erosion and Profit Shifting Project (BEPS) and is one of the BEPS minimum standards which the Cayman Islands is proposing to introduce to improve transparency between multinational enterprises and tax authorities. Closing date for submissions for this consultation is 27 February 2017.

For further information, or to access a copy of the discussion paper, please contact Paul Hale or Enrique Clemente.