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India gets first tranche of Swiss bank account details

It is among 75 countries to which Switzerlandu00e2u0080u0099s Federal Tax Administration provided details on financial accounts; next exchange to take place in September 2020

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The exchanged details include identification, account and financial information. Representation picture/iStock

The exchanged details include identification, account and financial information. Representation picture/iStock

New Delhi/Berne: India has got the first tranche of Swiss bank account details of its nationals under a new automatic information exchange pact, a major milestone in the government’s fight against black money stashed abroad.

India is among 75 countries with which Switzerland’s Federal Tax Administration (FTA) has exchanged information on financial accounts within the framework of global standards on Automatic Exchange of Information (AEOI), an FTA spokesperson said.

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