Cape Town, South Africa:--- The Minister of Finance, Hon. Mr. Roland S. Tuitt MBA CPA, has concluded Tax Information Exchange Agreements (TIEA's) with India, Costa Rica and the Czech Republic. The purpose of these bilateral agreements is to promote international co-operation in tax matters through exchange of information. The TIEA allows for Sint Maarten and respectively India, Costa Rica and the Czech Republic to work closely together on a full range of tax issues, including combating and preventing tax fraud and tax evasion. The TIEA provides for information exchange upon request and direct cooperation between the countries' tax authorities. The strengthened international co-operation on tax matters between countries ensures better enforcement of the tax laws, thus improving tax compliance.
Sint Maarten's network of international agreements on exchange of information has been expanding rapidly since 2009. With the conclusion of these two TIEA's, which have been negotiated during the last two months, Sint Maarten has exchange of information relationships with 53 jurisdictions to date.