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Today’s Top Headlines

India, Monaco Sign TIEA

by Mary Swire,, Hong Kong

06 August 2012

India and Monaco have inked a tax information exchange agreement (TIEA), the ninth such deal signed by India.

The TIEA was signed by India's new Finance Minister Shri S S Palanimanickam and Marco Piccinini, Monaco's Counsellor of Government for Finances and Economy.

The agreement provides for the exchange of banking and ownership information. Minimum details will have to be provided by the requesting State regarding the information required.

All information will have to be treated as secret. It may only be disclosed to relevant specified authorities.

TAGS: Finance | tax | tax information exchange agreement (TIEA) | India | banking | Monaco | offshore

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S S Palanimanickam is the Union Misister of State for Finance and P Chidambaram is the Union Finance Minister.

Janata on Friday, September 7, 2012