According to recent reports, the Cayman Islands Ministry of Financial Services, Commerce and Environment has launched a consultation with industry stakeholders on the introduction of Country-by-Country (CbC) reporting requirements. The proposed CbC reporting requirements would reportedly apply for fiscal years beginning on or after 1 January 2016 for MNE groups meeting an annual consolidated group revenue threshold of EUR 750 million (USD 850 million threshold also being considered). In line with BEPS Action 13 guidelines, the requirements would apply for ultimate parent entities resident in the Cayman Islands, as well non-parent constituent entities if the ultimate parent is not required...