INDIA and Kingdom of Bahrain have signed agreement for the Exchange of
Information with respect to taxes (TIEA), here yesterday. The Agreement was
signed by Mr Namo Narain Meena, Minister of State for Finance (Expenditure and
Financial Affairs) on behalf of Government of India and H.E. Kamal Ahmad,
Minister for Transportation and Acting CEO of the Economic Development of
Bahrain on behalf of Government of the Kingdom of Bahrain.
The
Agreement is based on international standards of transparency and exchange of
information. It incorporates provisions for effective exchange of information
including banking information between tax authorities of the two countries. It
has been provided that the Exchange of Information shall be on request and
without regard to the domestic interest.
The
Agreement will enhance mutual co-operation between the two countries by having
effective exchange of information in tax matters.
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