Mumbai: The governments of India and Bahrain have signed a Tax Information Exchange Agreement (TIEA), according to a press release from Bahrain Economic Development Board. Bahrain is the latest destination with which India has signed a TIEA.
India has identified nearly 30 destinations with which it can sign TIEA, a model developed by Organization for Economic Co-operation and Development ( OECD) for better co-operation among countries on tax related information.
India has already completed negotiations for sixteen similar agreements with Bahamas, Bermuda, British Virgin Islands, Isle of Man, Cayman Islands, Jersey, Monaco, St Kitts & Nevis, Argentina, Costa Rica, Macau, Liberia, Marshall Islands, Congo and Gibraltar.
The agreement was one of the several signed during a two-day state visit by His Royal Highness Prince Salman Bin Hamad Al-Khalifa, the Crown Prince of Bahrain and Chairman of the Bahrain Economic Development Board (EDB).
A delegation led by him has visited Mumbai and Delhi to strengthen bilateral relationships between the business communities and to highlight investment opportunities in the Kingdom.
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