Cayman Finance holds international tax seminar

Cayman Finance will host another seminar about international tax developments on Thursday, Jan. 23.

The event will focus on the OECD’s Base Erosion and Profit Shifting (BEPS) project and the effects of the U.S. Foreign Account Tax Compliance Act and its U.K. equivalent on the hedge funds, trusts, and captive insurance industries.

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 BEPS 15 point 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.

Cayman Finance CEO Gonzalo Jalles said FATCA and other new regulations will impact many facets of Cayman’s 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,” he said.

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 – key aspects that require clear understanding.

With 17 local and international speakers on the agenda, the one-day event is recognized by the Cayman Islands Society of Professional Accountants as eligible for CPE and will cover the above initiatives with particular focus on how they may affect Cayman’s financial services industry.

Other speakers include Martin Livingston and Justin Appleyard of Maples and Calder; Jonathan Pressman and Sulolit Mukherjee from 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; Peter Cockhill of Ogier, and Steven L. Cantor of 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 US$450 for non-Cayman Finance members and US$350 for members. A half-day is US$300 for non-members and US$200 for members. A networking lunch is also available at an additional cost of US$60.

To view the complete agenda and to register online, visit the events page at www.caymanfinance.ky.

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