• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Advertisement
  • Home
  • Economy
  • Foreign Affairs
  • Science & Tech
  • Environment
  • Law & Policy
  • History
No Result
View All Result
  • Home
  • Economy
  • Foreign Affairs
  • Science & Tech
  • Environment
  • Law & Policy
  • History
No Result
View All Result
  • 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
JournalsOfIndia
No Result
View All Result
Home Economy

Tax information exchange agreement (TIEA)

June 13, 2020
in Economy
Reading Time: 1min read
0
51
VIEWS
Share on TelegramShare on Facebook

Why is it the news?

Recently India has notified a tax information exchange agreement (TIEA) with the Marshall Islands.

What is TIEA?

  • A TIEA is a tax treaty variant to exchange information relevant to the administration and enforcement of their domestic tax laws
  • The key purpose of this arraignment is to promote international cooperation in tax matters by exchanging tax related information.
  • The OECD is the original proponent of TIEAs. They were developed by its Global Forum Working Group on Effective Exchange of Information to address harmful tax practices.
  • The agreement enables exchange of information, including banking and ownership information, between the two countries for tax purposes
  • The TIEA is based on international standards of tax transparency and exchange of information and enables the sharing of information on request.
  • The agreement also provides for representatives of one country to undertake tax examinations in other countries.
  • TIEAs are not binding instruments and can be terminated as stipulated in the agreements.

Agreement with Marshal Islands

  • The agreement 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.
  • As of May 2019 India, has entered into 21 TIEA arrangements with the following countries: Argentina, Bahamas, Bahrain, Belize, Bermuda, British Virgin Islands, Cayman Islands, Gibraltar, Guernsey, San Mario, Isle of Man, Jersey, Liberia, Macao Sar, Maldives, Liechtenstein, Monaco, Saint Kitts and Nevis, and Seychelles.
  • Very recently. India and Brunei Darussalam, a Southeast Asian country signed a TIEA.

 

Tags: Prelims

Related Posts

India innovation Index 2020

India innovation Index 2020

January 20, 2021
Trade Receivables Discounting System (TReDS)

Trade Receivables Discounting System (TReDS)

January 20, 2021
Credit Ratings

Credit Ratings

January 19, 2021
Prarambh -Startup India International Summit

Prarambh -Startup India International Summit

January 16, 2021
Reforms in Mining

Reforms in Mining

January 15, 2021
RBI sets up Working Group on Digital Lending

RBI sets up Working Group on Digital Lending

January 15, 2021
What are Debentures?

What are Debentures?

January 15, 2021
Modified Scheme to Enhance Ethanol Distillation Capacity

Modified Scheme to Enhance Ethanol Distillation Capacity

January 15, 2021
National Migrant Information System (NMIS)

National Migrant Information System (NMIS)

January 14, 2021
Toy Manufacturing Clusters

Toy Manufacturing Clusters

January 14, 2021
Please login to join discussion

Browse by Category

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society

Browse by Tags

AIR Big Picture GS-1 GS-2 GS-3 GS-4 Kurukshetra Mains News Paper PIB Prelims RSTV Yojana
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society

Browse by Tag

AIR Big Picture GS-1 GS-2 GS-3 GS-4 Kurukshetra Mains News Paper PIB Prelims RSTV Yojana

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • Prelims Snippets
  • Mains Articles
  • Economy
  • Society
  • Foreign Affairs
  • Science & Tech
  • Environment
  • Agriculture
  • History
  • Law & Policy
  • Security
  • Course Portal
  • Prelims Test Portal
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In