The St. Kitts and Nevis government is set to sign tax information exchange agreements (TIEAs) with Ireland and South Africa.

St Kitts information minister Nigel Carty said the TIEAs will promote international co-operation in tax matters through exchange of information.

Cabinet has approved the draft agreements Ireland and South Africa with between officials of the respective countries.

These agreements marks as an important step in the execution of the Federation’s commitments to the wider global community.

Carty said: "Those negotiation exercises have since been completed leading to the creation of draft agreements waiting to be signed.

"The TIEA framework was developed by the OECD Global Forum Working Group on Effective Exchange of Information which consisted of representatives from OECD member countries and 11 other countries in the Caribbean and other parts of the world.

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"The Agreement grew out of the work undertaken by the global community to address harmful tax practices," Carty added.

Till date, St. Kitts and Nevis has signed TIEAs with 18 countries including Australia, Belgium, Canada, Denmark, Finland, France, Greenland, Iceland, , the Netherlands, the Netherlands Antilles, New Zealand, Norway, Portugal, Sweden, and the United Kingdom.