The Netherlands Ministry of Finance has announced the signing last week of tax information exchange agreements with three Caribbean territories.
According to the Dutch authorities, the agreement with St Kitts and Nevis, was signed on September 1, and the TIEAs with Antigua and Barbuda and St Vincent and the Grenadines, were both concluded on September 2, on the sidelines of the recent OECD forum.
The conventions, upon entry into force, will allow the exchange of fiscal information between the respective countries’ tax authorities in the case of tax crimes, and in civil tax matters. The treaties were signed on behalf of the Netherlands by the Deputy Ambassador of the Dutch Embassy in Mexico.
The Netherlands Ministry of Finance noted that the agreements marked a significant step in combating tax evasion, fraud, money laundering and the financing of terrorism, as cooperation between the Netherlands and the Caribbean islands will be significantly enhanced with regard to tax matters.
The Finance Ministry further revealed that it had reached an agreement on the text of further TIEAs with two more jurisdictions - the Cook Islands and Samoa – and that it also expects to sign a double tax treaty with Bahamas that will incorporate the internationally-agreed standard in due course.
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