Seminar focuses on international tax initiatives

Effects on Cayman’s financial services industry to be explored

Cayman Finance is hosting a seminar aimed at anyone interested in learning more about the latest international tax initiatives, such as the Foreign Account Tax Compliance Act, multilateral automatic exchange of information and central registries of beneficial ownership.

The one-day event, scheduled for Jan. 23, 2014, at the Westin Grand Cayman Resort, will focus on how these initiatives may affect Cayman’s financial services industry.

Gonzalo Jalles, CEO of Cayman Finance, said, “FATCA, among other new regulations, will have an impact on a great many facets of our financial services industry and is expected to be followed by many others that are likely to change the shape of our industry. Cayman Finance believed it was important to bring together experts and leaders working in the field of taxation and to put together a seminar to provide answers to many of the questions industry professionals may have as new policies are implemented beginning as early as next year.”

With 14 local and international speakers on the agenda, the day will begin with a broad overview of onshore international tax initiatives. Former Cayman Islands Monetary Authority Chairman Timothy Ridley and Ernst & Young global director, international tax, James J. Tobin will be looking at the 15 points action plan created by the OECD and the implications for Cayman’s financial sector.

Duncan Nicol of the Tax Information Authority will offer perspective on the move toward the automatic exchange of information as the new international standard; and FATCA will then be dissected as it relates to its implementation, the registration process, and impact on specific industry sectors.

Attendees will be given a walk through the IRS online portal and will find out what the next steps will entail with regard to the intergovernmental negotiation process.

Other speakers include Martin Livingston and Justin Appleyard of Maples and Calder; Jonathan Pressman of Markit; Christopher Larkin and Bill Bailey of Ernst & Young; Stephen Camm and Bosun Adebaki of PricewaterhouseCoopers; Andrew Morehouse of Harney Westwood & Riegels; Toni Pinkerton of MaplesFS, Denise Hintzke of Deloitte; and Steven L. Cantor, Cantor & Webb P.A.

The seminar, sponsored by PricewaterhouseCoopers, Ignition, and Markit, begins at 8 a.m. with registration and breakfast, and concludes at 5 p.m. Cost for the full day is $450 for non-Cayman Finance members and $350 for members. A half day is $300 for non-members and $200 for members.