Dunne: NZ, St Kitts sign tax info exchange agreement

New Zealand has signed a Tax Information Exchange Agreements (TIEA) with the Federation of St Christopher and Nevis, more commonly known as St Kitts, Revenue Minister Peter Dunne announced today.

"TIEAs are bilateral treaties that provide for full exchange of information on civil and criminal tax matters between two countries," Mr Dunne said.

"I welcome the signing of this latest TIEA, which brings the number of such agreements that New Zealand has entered into this year to 10.

Mr Dunne said that a "great many" TIEAs had been signed internationally this year as offshore financial centres seek to achieve a sufficient number of them to meet OECD standards for transparency and information exchange.

"The new TIEA will come into force once the two jurisdictions have given legal effect to them," Mr Dunne said.

The text of the agreements is available at www.taxpolicy.ird.govt.nz