BASSETERRE, ST. KITTS, DECEMBER 22ND 2009 (CUOPM) – The Federation of St. Kitts and Nevis has signed its 8th Tax Information Exchange Agreement (TIEA).
St. Kitts-born OECS Ambassador to Brussels, Her Excellency, Ms. Shirley Skerritt signed the agreement with the Deputy Prime Minister and Minister of Finance of Belgium, His Excellency Mr. Didier Reynders on Friday 18th December.
These agreements bring to 8 the number of Tax Information Exchange Agreements that St. Kitts and Nevis has signed. TIEA’s have been signed with Monaco, New Zealand, The Netherlands, The Netherlands Antilles, Aruba, Denmark, Liechtenstein and Belgium.
The Federation will need an additional 4 agreements in order to be removed from the OECD’s so-called Grey List. The Federation has already initialed 9 other agreements – with the six Nordic countries which accounts for 6 agreements – the United Kingdom, Canada and Australia and is waiting for dates for the signing of these agreements to be given to the Federation by these countries.
The TIEA allows the signing parties to request information from each other that is relevant to a tax investigation. As provided in the agreement, such information would typically relate to bank accounts or the beneficial ownership of companies or trusts.
Photo: Kittitian OECS Ambassador to Brussels, Her Excellency, Ms. Shirley Skerritt (left) signs the Tax Information Exchange Agreement (TIEA) With the Deputy Prime Minister and Minister of Finance of Belgium, His Excellency Mr. Didier Reynders.