India signed an Agreement with the Government of the Kingdom of Bahrain for the Exchange of Information with respect to taxes (TIEA), here yesterday. The Agreement was signed by Shri 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.