Saint Vincent and the Grenadines will not exchange information under the CRS until it is satisfied that a partner jurisdiction has in place adequate measures to ensure the required confidentiality and data safeguards are met.
These confidentiality obligations are evaluated by the Global Forum on Transparency and Exchange of Information for Tax Purposes through its implementation monitoring programme.
Confidentiality and data safeguard questionnaires for all CRS jurisdictions are filed with the OECD Co-ordinating Body Secretariat.
US FATCA was implemented in Saint Vincent and the Grenadines in accordance with the Saint Vincent and the Grenadines and US intergovernmental agreement. However, the US is a non-participating jurisdiction for common reporting purposes.
The US has indicated that it will continue to undertake automatic information exchanges pursuant to its FATCA intergovernmental agreements.
The US FATCA legislative framework in Saint Vincent and the Grenadines will therefore continue to operate as normal, in parallel with the CRS regime.