CRS Compliance in the Cayman Islands: What Financial Institutions Need to Know
In the last quarter of 2024, the Cayman Islands Department for International Tax Cooperation (DITC) significantly increased its enforcement activities, issuing numerous breach notices to Reporting Financial Institutions (FIs) that failed to meet their obligations under the Common Reporting Standard (CRS) regime. These enforcement actions highlight the DITC’s growing focus on ensuring strict adherence to […]