Phase 2 Peer Review Report Summary: St. Kitts and Nevis

 

The Phase 2 review rates St. Kitts and Nevis as overall largely compliant with the international standard. To a large extent St. Kitts and Nevis’ legal framework and its practical implementation ensure that ownership, accounting and bank information is available according to the standard. However, the report notes that compliance with ownership and accounting record keeping obligations on entities exempt from taxation was not sufficiently monitored by the Financial Services Regulatory Commission to ensure the availability of such information in all cases. St. Kitts and Nevis has limited experience in exchange of information. Nonetheless St. Kitts and Nevis has put in place organisational processes and committed resources for handling exchange of information requests. St. Kitts and Nevis should report steps taken to address the recommendations made in the Phase 2 report within12 months. For further information on St. Kitts and Nevis’ exchange of information practices and to read the full report click here.

 

Related Documents