Fund-Technology.com

Netherlands Antilles removed from Spanish fiscal blacklist

Posted: 29 July 2008

The Netherlands Antilles Ministry of Finance has confirmed that the signing of a Tax Information Exchange Agreement (TIEA) with Spain has removed the fund domicile from a blacklist of 48 countries deemed ‘tax havens'. It is now more likely that other EU countries will follow Spain in reaching similar agreements with the Netherlands Antilles.

TIEAs currently exist between the Netherlands Antilles and the USA, Australia and New Zealand. A TIEA is normally concluded with a longer term view to begin negotiations on a Double Taxation Agreement (DTA) in order to reduce or avoid double taxation on cross border transactions.

Further negotiations are in various stages of progress on either a TIEA or DTA with Chile, Barbados, Canada, Scandinavian countries and in more final stages with the UAE, Colombia, Surinam and Mexico.

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