India signs agreement with Seychelles for restriction on black money [ Current Affairs ]


About Seychelles: Seychelles is an archipelago in the Indian Ocean. Archipelago is a chain or collection of island. It is the 115 - island country. Its capital is Victoria which lies in 1, 500 kilometers east of mainland Southeast Africa.

About the agreement:

  • India has signed an agreement with Seychelles for restriction on tax fudging and increases its efforts to fight against black money.
  • The agreement was signed after a meeting between Prime Minister Narendra Modi and President of Seychelles James Alix Michel.
  • This pact will help India to curb tax fudging and also handle for related help between the authorities of both nations to take action against suspected tax evaders.

About James Alix Michel:

  • Colonel James Alix Michel was born on 16th August, 1944.
  • He is a Seychellois politician, who has been President of Seychelles since 16th April, 2004.
  • He previously served as Vice - President under his ancestor, France - Albert Ren, from 1996 to 2004.
  • He started as a teacher, but later he get involved in the archipelago’s booming tourism industry and joined Ren’s political party before independence in 1976.

- Published on: August 31, 2015