India and Brunei signed a pact for the exchange of Information and Assistance in Collection with respect to taxes in order to curb tax evasion and tax avoidance in New Delhi.
This agreement will facilitate both the countries to exchange information, including banking and ownership information for tax purposes and will also avail mutual assistance in collection of tax revenue claims.
Static/Current Takeaways Important for NIACL AO Mains Exam:
- Brunei Capital: Bandar Seri Begawan, Currency: Brunei dollar, Prime Minister: Hassanal Bolkiah.
Source: Business Standard