A protocol to the existing Bahrain-France Convention for the Avoidance of Double Taxation was signed today in Paris. The aim of the protocol is to ensure that the existing convention complies with the OECD standard on exchange of information.
The protocol amends the 1993 convention by inserting a new article which allows the competent authorities in Bahrain and France to exchange tax information in accordance with the OECD standard.
Bahrain already has conventions with three other OECD countries that meet the OECD standard including an agreement signed yesterday with Luxembourg. Negotiations are also underway with other countries.