Saint Kitts and Nevis and the Netherlands will soon begin bilateral talks for the exchange of information in the area of financial services, announced the government this week.
The topic of information exchange was one of the issues discussed on April 2 between St Kitts and Nevis Prime Minister Denzil Douglas and Dutch Ambassador to the Federation of St Kitts and Nevis, Hans Horbach.
Prime Minister Douglas told the visiting Dutch diplomat who is based in Trinidad and Tobago that similar agreements will be pursued with other European nations including Sweden, Norway and Denmark. St Kitts and Nevis committed to the OECD standard of transparency and information exchange in tax matters in 2002. The jurisdiction currently has not concluded any tax information exchange agreements.
St Kitts and Nevis made a landmark move in tabling legislation in its parliament on March 26 to provide for the exchange information in tax matters with other jurisdictions. St Kitts and Nevis currently features on the OECD’s ‘grey list’ of partially compliant jurisdictions and has vowed to conclude tax information exchange agreements to become ‘fully compliant’ with the OECD standard.
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