UAE and India yesterday agreed to amend the DTAA, which would lead to greater and smooth sharing of tax information between the two countries. They also agreed to set up a joint panel to look into consular issues.

With this amendment, the Article 28 on exchange of information has been updated in line with the OECD-orchestrated internationally accepted standards. Now, the banking information can be shared between the two countries. Both the countries also lauded the role of NRIs in strengthening the bilateral ties.