Panama on Monday said it is in talks with India for putting in place a bilateral tax information exchange agreement, amid furore over hundreds of names of Indians figuring in the 'Panama Papers'. Since there is no pact now, Panama said it would not be able to exchange information with India unless it comes through a judicial channel. "We are already in talks to begin a process of negotiating exchange of information agreement... We would begin DTAA/TIEA with Japan, Germany and Brazil and of course India. The multi-agency group will comprise various government agencies - the CBDT, FIU, FT&TR (Foreign Tax and Tax Research) and RBI. "(We are in process of getting into an agreement) so that we can provide exchange of information (to India)," the visiting minister said.

Source: dna May 16, 2016 11:33 UTC