PUBLIC NOTICE Tax Exemption Certificates new Procedure of Manual Applications

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Samuel Rose, JP - Cabinet Secretary

Published 3rd July 2020, 12:28pm

The Cabinet Office continues to accept requests for New Applications, Renewals and Re-Issues (not the same as an endorsement) via the Corporate Administration Platform (CAP). Applications for Endorsements, Duplicates, Exempted Trusts and Certified Copies must be submitted by hand in a sealed envelope addressed to the Clerk of the Cabinet at the Reception Desk at the Government Administration Building.

Documents Required for Endorsements*:

  • Cover Letter/Application;
  • Change of Name Certificate;
  • Tax Exemption Certificate*; and
  • Copy of EFT Payment.

*In the case where the Tax Exemption Certificate (TEC) was issued online via CAP an electronic copy of the TEC will be sufficient and the entire application for endorsement may be submitted via email.

Documents Required for Exempted Trusts (can also be submitted via email):

  • Cover Letter/Application;
  • Certificate of Registration; and
  • Copy of EFT Payment.

Documents Required for Duplicates (can also be submitted via email):

  • Cover Letter/Application;
  • Copy of EFT Payment.

Documents Required for Certified Copies;

  • Cover Letter/Application;
  • Original Tax Undertaking; and
  • Copy of EFT Payment.

Additionally, we have changed the way that we accept payment for these manual services, in that, we will no longer accept cheques as the method of payment as of Friday, 3rd July, 2020. Payments should be made via the Electronic Funds Transfer (EFT) method. Please refer to the information below which outlines the bank details for EFTs in relation to tax undertakings.

 

TAX UNDERTAKING FEES - LOCAL ELECTRONIC FUNDS TRANSFER

Funds maybe remitted to the Cayman Islands Government (CIG) via the Automated Clearing House (ACH) Electronic Funds Transfer (Direct Credit), from any of the following Cayman Islands Automated Clearing House (CIACH) participant Banks:

Cayman National Bank Limited

Butterfield Bank (Cayman) Limited

CIBC FirstCaribbean International Bank (Cayman) Limited

Fidelity Bank (Cayman) Limited

RBC Royal bank (Cayman) Limited

Scotiabank & Trust (Cayman) Limited

ELECTRONIC FUNDS TRANSFER INFORMATION

CIG – CABINET OFFICE

*Beneficiary ‘Short Name’ CIG CABINET OFFICE

Address 133 Elgin Avenue, Govt. Admin. Bldg. Grand Cayman

Beneficiary Bank RBC Royal Bank (Cayman) Limited

Beneficiary Account Number KYD 069751127067 or

USD 069752624872

Beneficiary Account Type Chequing

Reference Client Name/Service (i.e. Passage Holdings – Endorsement or

Passage Trust – Trust TU)

*Beneficiary ‘Short Name’ name must be entered online as stated above

TAX UNDERTAKING FEES

As a reminder tax undertaking fees in accordance with the Government Fees Order, 2017 please click on the link below.

Government Fees Order, 2017

CROSS CURRENCY

Please ensure that the same currency is selected (paying/receiving), alternatively contact your Bank regarding cross currency transactions (e.g. funds sent in KYD but the receiving account is USD a/c and vice versa).

Reminder

Email a copy of the executed direct deposit to TEC@GOV.KY .