St. Kitts and Nevis has reportedly approved amendments to the country's company laws at the end of December 2018 to repeal the tax exemptions for companies that carry on business exclusively with persons that are not resident in St. Kitts and Nevis. The repeal is to comply with harmful tax practice requirements of BEPS Action 5 and the EU non-cooperative jurisdiction list and is generally effective from 1 January 2019. However, companies formed on or before 31 December 2018 may continue to en…