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St. Kitts and Nevis signs international tax convention

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The Government of St. Kitts & Nevis has signed the Multilateral Convention on Mutual Administrative Assistance, in Tax Matters.

Prime Minister Dr. the Hon. Timothy Harris attended a signing ceremony at the OECD headquarters in Paris, France, where he signed the Convention, on Thursday 25th August, 2016, upon the invitation of the Organisation for Economic Co-operation and Development (OECD).

Prime Minister Harris deposited the Instrument of Ratification with the OECD after the signing ceremony and as a result, formalizing the commitment of the St. Kitts & Nevis government, on Mutual Administrative Assistance in Tax Matters.

The Convention is an independent multilateral agreement, made to promote international co-operation, for a better operation of national tax laws.

It also provides for all types of administrative co-operation between the parties in the collection of taxes and in particular, a view to combating tax evasion.

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Convention on Mutual Administrative Assistance in Tax Matters (MAAC) – Signing Ceremony with Burkina Faso, Malaysia, St Vincent and the Grenadines, Samoa, St Kitts and Nevis, Andorra and Senegal 25 August 2016 – (From left) Cristina Rodriguez, Ambassador of Andorra to France; Ibrahim Abdullah, Ambassador of Malaysia to France; Mamadou Sangare, Chargé d’affaires at the Burkina Faso Embassy to France Timothy Harris, Prime Minister of Saint Kitts and Nevis; Mari Kiviniemi, Deputy Secretary-General of the OECD; Bassirou Sene, Ambassador of Senegal to France; Cenio Lewis, High Commissioner of St. Vincent and the Grenadines to the United Kingdom ; Theresa Penn, Counsellor of the Embassy of Samoa to Belgium . Photo: OECD/Andrew Wheeler

 

Such co-operation surrounds the recovery of foreign tax claims and exchange of information, including automatic exchanges facilitated by the Automatic Exchange of Information (AEOI) portal, which provides associating jurisdictions with online support for the execution of automatic exchange of information in tax matters.

There are 103 jurisdictions participating in the Convention on Mutual Administrative Assistance in Tax Matters, as of Thursday 25th August.

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