04-Jul-2014

Law, Regulations In Effect to Facilitate Automatic Tax Information Exchange

Ministry of Finance

Industry is advised to view www.tia.gov.ky for all current amendments to the Tax Information Authotity Law.

The amendment to the law is primarily to facilitate AEOI (automatic exchange of information) for tax purposes. The regulations bring into force in domestic law the obligations under the intergovernmental agreements with the US and the UK.   

With the gazetting of the law and the regulations, the FATCA Working Group is finalising updated guidance notes, which will be issued by the Tax Information Authority shortly.