India Notifies Tax Info Exchange Pact with Marshall Islands

  • On 4th June, 2019, India notified a tax information exchange agreement (TIEA) with the Marshall Islands.

Significance

  • Sharing of Banking Information: It will enable bilateral sharing of banking information and allow officials of one country to undertake tax examinations in the other country.
  • Enhance Mutual Cooperation: It will enhance mutual cooperation between India and the Marshall Islands by providing an effective framework for exchange of information on tax matters which will help curb tax evasion and tax avoidance.

Tax Information Exchange Agreement (TIEA)

  • The Organisation for Economic Co-operation and Development (OECD) designed the TIEA to enable high tax countries to request ....
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