Weekly Global Update: February 6 – February 12, 2016

February 12, 2016

Over this past week, there weren’t any new global updates to FATCA regulations. However, there is always information to stay well-versed on. For this week’s update, check out the chart below about UK CDOT reporting:


Jurisdiction Due Date Guidance eFile Format Nil Reporting
Anguilla TBD Not yet available
Bermuda 9-30-2016 Currently, no formal Guide; however see,Statement from Ministry of Finance Treaty Unit, 1-15-2016 FATCA UK Submission Schema_v1.4
British Virgin Islands 5-31-2016 Guidance Notes_v2.0, 3-20-2015 IRS 5124 No
Cayman Islands 5-31-2016 Guidance Notes_v2.1, 7-1-2015 IRS 5124 Optional
Gibraltar 9-15-2016 Not yet available
Guernsey 6-30-2016 DRAFT – Guidance Notes, 4-30-2015 IRS 5124 Yes, if FI is registered
Isle of Man 6-30-2016 Guidance Notes, 12-15-2014 IRS 5124 No
Jersey 6-30-2016 DRAFT – Guidance Notes, 9-9-2015 IRS 5124 No
Montserrat TBD Not yet available
Turks and Caicos 5-31-2016 Guidance Notes, 11-2015 IRS 5124 No
United Kingdom 5-31-2016 Guidance Notes, 9-14-2015 FATCA UK Submission Schema_v1.4 Yes

Don’t forget to sign up for the Sovos blog and our monthly newsletter to get other helpful graphics and charts, important updates as well as other important information concerning FATCA, CDOT, and CRS.

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Sovos was built to solve the complexities of the digital transformation of tax, with complete, connected offerings for tax determination, continuous transaction controls, tax reporting and more. Sovos customers include half the Fortune 500, as well as businesses of every size operating in more than 70 countries. The company’s SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout the Americas and Europe, and is owned by Hg and TA Associates.
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