Tuesday, March 9, 2010
The Caribbean federation of St Kitts and Nevis signed its tenth Tax Information Exchange Agreement (TIEA) with Australia at a ceremony on March 5.
The agreement was signed by St Kitts and Nevis Prime Minister, Denzil Douglas, and Australia’s non-resident ambassador to St Kitts and Nevis, Philip Kentwell. The agreement brings St Kitts and Nevis’s tally of such agreements to ten, having previously concluded agreements with Monaco, the Netherlands, the Netherlands Antilles, Aruba, the United Kingdom, Denmark, Belgium, New Zealand and Liechtenstein.
With the end of March deadline fast approaching for territories to achieve a place on the OECD ‘white list’ of territories that have "substantially implemented" the internationally agreed standard, Douglas confirmed that on March 24, 2010, the territory would sign agreements with the six Nordic countries, in order to achieve the twelve TIEA benchmark set by the G20.
Texts of further TIEAs have been agreed with Canada, France, Germany and San Marino, Douglas informed, stating that the federation was awaiting dates for their signature.
The Federation has also commenced discussions with India, Japan, the Seychelles and the United States towards the conclusion of TIEAs but has not yet confirmed the text for these agreements, Douglas concluded.