Daily Archives: 30 December 2016

German cabinet adopts bill to combat tax avoidance

21 December 2016, the German cabinet adopted a bill to impose more stringent reporting obligations on German taxpayers with foreign financial interests and financial institutions managing foreign investment structures for their clients. If the bill is approved by parliament, the changes will be introduced on 1 January 2018. Under the proposals, taxpayers must disclose a…

Cayman Islands sets out CRS reporting duties for financial institutions

22 December 2016, the Cayman Islands government issued the Tax Information Authority (Amendment) Law 2016 (Commencement) Order and the Tax Information Authority (International Tax Compliance) (Common Reporting Standard) (Amendment) Regulations. This represents the second tranche of regulations “to ensure effective implementation” of the OECD Common Reporting Standard (CRS), which is the global standard for automatic…