Bermuda MOF Updates User Guide on Tax Information Reporting Portal for Specific Entities

The Bermudian Ministry of Finance May 27 updated a user guide on the tax information reporting portal for entities satisfying their reporting obligations under the OECD’s common reporting standard (CRS) and country-by-country (CbC) reports. Topics covered include: 1) the purpose and scope of the user guide, and relevant definitions; 2) the submission of CRS filings and the summary of CRS validation rules; 3) the submission of CbC filings and the correction of CbC validation issues prior to submission; 4) reviewing and correcting errors from partner jurisdictions regarding CRS and CbC; 5) procedures for deactivating a reporting entity, as well as ...