St Kitts And Nevis Drafts Information Exchange Legislation

by Phillip Morton, Investors Offshore.com

02 April 2009

St Kitts and Nevis has drafted legislation to provide for the mutual exchange of information on taxation matters between itself and other jurisdictions. The legislation, Saint Christopher and Nevis (Mutual Exchange of Information on Taxation Matters) Bill, 2009, was tabled in the island’s national assembly on March 26.

The bill marks a significant step in the island’s OECD compliance following its pledge on December 31, 2005 to adhere to the OECD principles of transparency and tax information exchange.

When the bill is enacted, it will allow St Kitts and Nevis to conclude tax information exchange agreements with other jurisdictions, thus providing greater transparency and information to other tax authorities in the case of tax crimes.

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