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Bermuda’s decision to sign up to a country-by-country reporting agreement for multinational companies could be used to target shell companies using the island for tax avoidance. Bradley Kading, president and executive director of the Association of Bermuda Insurers and Reinsurers, said: “The main impact of the country by country reporting will likely be to call attention to shell companies formed by non-Bermuda multinationals in which little on the ground economic activity ta

Financial institutions in the Cayman Islands are busy at work preparing for the quickly approaching FATCA, April 30th and May 31st reporting deadlines. This acts as a reminder, not only to Cayman Island banks, but all international institutions to keep up to date with FATCA standards. “Many foreign banks are having a tough time dealing with all of the complex FATCA requirements.” (Michael Cohn, AccountingToday) Michael Cohn reminds us of the complexities of reporting under FA