Discussion
What is the full form of "TIEA"?
Answer: B
Correct answer: Tax Information and Exchange Agreement
A tax information exchange agreement is a bilateral treaty under which two jurisdictions undertake to supply each other with information relevant to the administration of their tax laws.
India has signed a number of them, particularly with jurisdictions offering banking secrecy, to trace undisclosed assets held abroad. They differ from double taxation avoidance agreements, which allocate taxing rights between countries; a TIEA allocates nothing and does only one thing - make information available on request or, increasingly, automatically.
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