GRENADA AUTHORITY FOR THE REGULATION

OF FINANCIAL INSTITUTIONS (GARFIN)

Grenada signs Tax Information Exchange Agreement (TIEA) with Germany

On February 03, 2011, the Government of Grenada and the Government of Germany signed an Agreement providing for the exchange of information on taxation matters. The Agreement was signed by the Hon. Nazim Burke Minister of Finance for Grenada and his Excellency Mr. Stefan Schluter German Ambassador to Grenada. Under the Agreement both countries commit themselves to provide assistance through exchange of information relevant to the administration and enforcement of the respective fiscal laws of the contracting states. This Agreement brought to fourteen the number of Tax Information Exchange Agreements signed by Grenada.

Government appoints Insurance Appeals Tribunal.

The Government of Grenada has appointed an Appeals Tribunal as provided for in sections 222 and 223 of the Insurance Act No. 5 of 2010. Any person(s) who is aggrieved by a decision of the Supervisor of Insurance may appeal to the Tribunal. The members of the Tribunal are Mr. Francis Paul (Chairman), Mrs. Patricia Mark and Ms. Sandra James.