Ministry of Finance

Posted On: 06 JUN 2019 1:21 PM by PIB Delhi

The Agreement between the Government of the Republic of India and the Government of the Republic of the Marshall Islands for the Exchange of Information with respect to taxes (India – Marshall Islands TIEA) was signed on 18th March, 2016 at Majuro, the Republic of the Marshall Islands. The India-Marshall Islands TIEA has been notified in the Gazette of India (Extraordinary) on 21st May, 2019.

The Agreement enables exchange of information, including banking and ownership information, between the two countries for tax purposes. It is based on international standards of tax transparency and exchange of information and enables sharing of information on request. The Agreement also provides for representatives of one country to undertake tax examinations in the other country.

The Agreement will enhance mutual co-operation between India and Marshall Islands by providing an effective framework for exchange of information in tax matters which will help curb tax evasion and tax avoidance.

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DSM/RM/KMN

Exchange of information enables tax information sharing and on site examinations to combat tax evasion and avoidance. Agreement establishes a framework for exchange of information between India and the Marshall Islands for tax purposes, permitting sharing of banking and ownership information on request under international tax transparency standards and authorising representatives to conduct on site tax examinations to obtain information to detect and deter tax evasion and avoidance.