BASSETERRE, ST KITTS, Dec 19 (NNN-CARIBBEAN NET NEWS-CUOPM) -- The Federation of St Kitts and Nevis has signed two Organisation for Economic Cooperation and Development (OECD)-model Tax Information Exchange Agreements (TIEAs) with New Zealand and Liechtenstein.

The agreement with Liechtenstein, initialed by St Kitts and Nevis Prime Minister and Minister of Foreign Affairs, Denzil Douglas while in Liechtenstein last month, was officially signed in Washington, DC on Dec 11.

St Kitts and Nevis’ Ambassador to the United States, Izben C Williams signed on behalf of the Federation, while Liechtenstein Ambassador to the United States, Claudia Fritsche, signed on behalf of her Municipality.

In November, Ambassador Williams also signed a Tax Information Exchange Agreement in Washington, DC on behalf of the Government of St Kitts and Nevis with New Zealand. That country’s Ambassador to the United States, Roy Ferguson signed on behalf of New Zealand.

These agreements bring to seven the number of Tax Information Exchange Agreements that St Kitts and Nevis has signed. TIEAs have been signed with Monaco, New Zealand, The Netherlands, The Netherlands Antilles, Aruba, Denmark and Liechtenstein.

The Federation will need an additional four agreements in order to be removed from the OECD’s so-called Grey List. The Federation has already initialed ten other agreements - with the six Nordic countries which accounts for six agreements – the United Kingdom, Canada and Australia and is waiting for dates for the signing of these agreements to be given to the Federation by these countries.

The TIEA allows the signing parties to request information from each other that is relevant to a tax investigation. As provided in the agreement, such information would typically relate to bank accounts or the beneficial ownership of companies or trusts.

-- NNN-CARIBBEAN NET NEWS-CUOPM