In a further tightening of the net for international tax evasion, the Netherlands Ministry of Finance has announced the signing of tax information exchange agreements (TIEAs) with three Caribbean territories.
The agreements with St Kitts and Nevis, and the TIEAs with Antigua and Barbuda and St Vincent and the Grenadines, were all signed on the sidelines of the recent OECD forum.
The conventions contained with the agreements, will allow the exchange of fiscal information between the tax authorities in the case of tax crimes, and in civil tax matters.
The Netherlands Ministry of Finance noted that the agreements marked a significant step in combating tax evasion, fraud, money laundering and the financing of terrorism, as cooperation between the Netherlands and the Caribbean islands will be significantly enhanced with regard to tax matters.
The Dutch Finance Ministry revealed that it had also reached agreements for the text of further TIEAs with two more jurisdictions, namely, the Cook Islands and Samoa and that it also expects to sign a double tax treaty with Bahamas that will incorporate the internationally-agreed standard in due course.
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