BASSETERRE, ST. KITTS, NOVEMBER 13TH 2014 (CUOPM) – The Federation of St. Kitts and Nevis and the Republic of India have entered into a tax information exchange pact.
The agreement was signed by St. Kitts and Nevis’ Ambassador to the United Nations, His Excellency Delano Frank Bart, Q.C. and his Indian counterpart at the UN, His Excellency Asoke Kumar Mukerji.
The agreement is modelled on other tax information exchange agreements and would cover taxes imposed by both the countries.
It would include information relevant to administration of domestic tax laws of each country in terms of assessment, tax claims and prosecution. The agreement would also encompass information on banking details, ownership information of companies and information relevant to administration of domestic laws and taxes in both the countries.
The signing of these agreements represents an important step in the fulfillment of the Federation’s commitments to the wider global community.
St. Kitts and Nevis has signed TIEA agreements with several jurisdictions including Aruba, Australia, Belgium, Canada, Denmark, Faroe Islands, Finland, France, Greenland, Iceland, Liechtenstein, the Netherlands, the Netherlands Antilles, New Zealand, Norway, Portugal, Sweden, and the United Kingdom.
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