India Had Received The Third Set Of Details From Switzerland Under Automatic Exchange Of Information Aeoi – Swiss Bank

PTI, New Delhi

Published by: Dimple Aladhi
Updated Mon, 11 Oct 2021 04:10 PM IST

Summary

The Swiss government has provided the third list of Swiss bank accounts of Indians to the Indian government. The next set of information will be shared by Switzerland in September 2022.

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The central government has got great success in the war against black money. Under the new arrangement for exchange of information under the treaty with Switzerland on black money, the Swiss government has provided the third list of Swiss bank accounts of Indians to the Indian government. The Swiss government has said it has shared information on 3.1 million financial accounts with 86 countries. The Swiss government has said it has shared information on 3.3 million financial accounts with 96 countries.

The second list was given on October 2020
India is among 96 countries with which Switzerland’s Federal Tax Administration (FTA) this year provided financial accounts information under the framework of global standards on the automatic exchange of information. Earlier in October 2020, it had shared information of 31 lakh financial accounts with 86 countries. At the same time, in September 2019, Switzerland had shared such information with 75 countries including India.

Information given to 10 new countries this year
In this context, the Federal Tax Administration (FTA) said on Monday that 10 more countries have exchanged information this year. These include Antigua and Barbuda, Azerbaijan, Dominica, Ghana, Lebanon, Macau, Pakistan, Qatar, Samoa and Vauatu.

Although the FTA did not disclose the names and further details of all 96 countries, officials said India has received information for the third year in a row and the details shared with Indian authorities are account of a large number of individuals and companies in Swiss financial institutions. are related to.

Information not given to 26 countries
It is known that 26 countries shared information with Switzerland, but in return, Switzerland did not give them information on its behalf. It is believed that due to data security, Switzerland has prohibited 14 countries from sharing information. At the same time, 12 countries agreed to deliberately not obtain information.

Expansion

The central government has got great success in the war against black money. Under the new arrangement for exchange of information under the treaty with Switzerland on black money, the Swiss government has provided the third list of Swiss bank accounts of Indians to the Indian government. The Swiss government has said it has shared information on 3.1 million financial accounts with 86 countries. The Swiss government has said it has shared information on 3.3 million financial accounts with 96 countries.

The second list was given on October 2020

India is among 96 countries with which Switzerland’s Federal Tax Administration (FTA) this year provided financial accounts information under the framework of global standards on the automatic exchange of information. Earlier in October 2020, it had shared information of 31 lakh financial accounts with 86 countries. At the same time, in September 2019, Switzerland had shared such information with 75 countries including India.

Information given to 10 new countries this year

In this context, the Federal Tax Administration (FTA) said on Monday that 10 more countries have exchanged information this year. These include Antigua and Barbuda, Azerbaijan, Dominica, Ghana, Lebanon, Macau, Pakistan, Qatar, Samoa and Vauatu.

Although the FTA did not disclose the names and further details of all 96 countries, officials said India has received information for the third year in a row and the details shared with Indian authorities are account of a large number of individuals and companies in Swiss financial institutions. are related to.

Information not given to 26 countries

It is known that 26 countries shared information with Switzerland, but in return, Switzerland did not give them information on its behalf. It is believed that due to data security, Switzerland has prohibited 14 countries from sharing information. At the same time, 12 countries agreed to deliberately not obtain information.