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St Kitts and Nevis has improved its standing with the Organization for Economic Cooperation and Development (OECD) after signing another two tax information exchange agreements (TIEAs), bringing its total to four.
The agreements were signed at The Hague on September 11, 2009, with the Netherlands Antilles and Aruba, adding to the two agreements signed with the Netherlands and Denmark on the sidelines of the OECD Global Forum on Taxation held in Mexico earlier this month.
St Kitts and Nevis High Commissioner to the United Kingdom, James Williams, signed the TIEAs on behalf of the Federation with representatives from the Netherlands Antilles and Aruba.
The government of St Kitts and Nevis says it has already negotiated the text for additional TIEAs, but is awaiting indication from the relevant countries with regards the actual signing of these agreements.
Prime Minister Denzil Douglas recently announced that the government would soon sign TIEAs with several countries including Finland, Iceland, Norway, and Sweden. Further agreements are also being sought with New Zealand, Australia, and Canada, as the government seeks to gain a place on the OECD’s "white list" of territories that have substantially implemented the internationally-agreed standard on transparency and information exchange.A comprehensive report in our Intelligence Report series, examining in depth the situation of offshore transparency and secrecy in a number of the most prominent jurisdictions, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report2.asp
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