NEW DELHI – India’s Ministry of Finance said the government has signed a tax information exchange accord with the Bahamas aimed at tightening the noose on tax evaders and tracking black money stashed in tax havens.
The ministry said the deal is the fourth in a series of agreements with the Caribbean Community (CARICOM) country.
“The agreement is based on international standard of transparency and exchange of information,” the statement said.
It said India last week signed similar agreements with the British Virgin Islands and the Isle of Man, a British dependency in the Irish Sea between Britain and Ireland.
The statement said the first tax agreement was signed with Bermuda in October last year.
Under the agreement, “there is a specific provision for sharing banking and ownership information” between two countries, the statement said. (CMC)
