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Indian Govt to get Swiss Banks info from Sept 2019
By: Tupaki Desk | 23 Nov 2016 2:09 PM GMT
To stop the menace of Black Money stashed abroad, Government of India has entered into an agreement with Switzerland. CBDT Chairman Sushil Chandra and Swiss Embassy deputy chief in India Gilles Roduit have reached an agreement to implement Automatic Exchange of Informantion (AEOI) between the two countries.
From September 2019, Indian Government will automatically receive the information of Swiss Bank accounts held by Indian residents for 2018 and subsequent years.
On June 6th this year, PM Narendra Modi discussed with Swiss President Johann Schneider-Ammann about the importance of exchange of information between two nations to curb tax evasion.
Bringing the black money in offshore accounts is one of the major poll promise of Narendra Modi in 2014. The agreement between India and Switzerland is a step towards fulfilling this promise.
From September 2019, Indian Government will automatically receive the information of Swiss Bank accounts held by Indian residents for 2018 and subsequent years.
On June 6th this year, PM Narendra Modi discussed with Swiss President Johann Schneider-Ammann about the importance of exchange of information between two nations to curb tax evasion.
Bringing the black money in offshore accounts is one of the major poll promise of Narendra Modi in 2014. The agreement between India and Switzerland is a step towards fulfilling this promise.
