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The Federation of Saint Kitts and Nevis and the United States of America Sign Agreement to Improve International Tax Compliance and to Implement FATCA

The Governments of the Federation of Saint Kitts and Nevis and the United States of America (USA) on 31 August 2015, signed an InterGovernmental Agreement (IGA) that will facilitate compliance by financial institutions in the Federation with the USA’s Foreign Account Tax Compliance Act (FATCA).

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Global Forum on Transparency and Exchange of Information for Tax Purposes: Fact Sheet on tax transparency measures taken by jurisdictions on the “pan-EU list”

The EU Commission on June 17, made an announcement regarding third party non-cooperative jurisdictions. In response, Pascal Saint-Amans, Director of the OECD Centre for Tax Policy and Administration and Monica Bhatia, Head of the Global Forum Secretariat sent a letter to all Global Forum members. The Global Forum Secretariat has now produced a simple fact sheet which brings together in one place the tax transparency measures taken by the jurisdictions on the pan-EU list.

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Nevis Island Administration prepares financial services industry providers for FATCA Implementation

A two-day workshop for representatives of financial institutions and other key stake holders, hosted by the Nevis Financial Services Regulatory and Supervision Department in conjunction with the Ministry of Finance and a National FATCA Committee, will help service providers navigate the ins and outs of the Foreign Accounts Tax Compliance Act (FATCA) reporting and serve them well moving forward.

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Appointment of New Regulator of International Banking

Please be advised that effective Wednesday the 1st day of July, 2015, Mr. James Simpson was duly appointed Regulator of International Banking by the Minister of Finance, Nevis Island Administration pursuant to section 30 of the Nevis International Banking Ordinance, 2014.

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Nevis Financial Services Regulation and Supervision Department hosts its 10th Annual AML/CFT Awareness Seminar and Training Workshop

With the aim of improving the culture of  compliance, the Nevis Financial Services Regulation and Supervision Department held its 2015 Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) Awareness Seminar and Training Workshop on March 3 and 4, 2015 at the Four Seasons Resort Conference Room.

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