India, British Virgin Islands to share tax information

February 10th, 2011 - 4:31 pm ICT by IANS  

New Delhi, Feb 10 (IANS) In a bid to tighten the noose on tax evaders and track black money stashed in tax havens, India has signed an agreement with the British Virgin Islands for exchange of tax-related information. “India and British Virgin Islands have signed a tax information exchange agreement in London. The deal is based on international standard of transparency and exchange of information,” the finance ministry said in a statement here Thursday.

This is the third tax information exchange agreement India has signed so far.

India signed the first such agreement with Bermuda, a Caribbean tax haven, in October last year. The second agreement was signed with the Isle of Man last week.

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