The government of St Kitts and Nevis has announced the signing of its eighth Tax Information Exchange Agreement (TIEA).
St Kitts-born OECS Ambassador to Brussels, Shirley Skerritt signed the agreement with Belgium's Deputy Prime Minister and Minister of Finance, Didier Reynders on December 18.
This agreement brings to eight the number of Tax Information Exchange Agreements that St Kitts and Nevis has concluded. The Federation will need an additional four agreements in order to be removed from the OECD’s so-called "grey list".
The Federation has already initialled nine other TIEAs, with the six Nordic countries (Norway, the Faroe Islands, Finland, Greenland, Iceland and Sweden), the United Kingdom, Canada and Australia, and is awaiting dates for the signing of these agreements.
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.
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