NEW DELHI/BERNE: India’s fight against suspected black money stashed abroad will get a major boost this September in the form of first set of detailed financial information about all Indians having Swiss bank accounts, including those closed since last year.
The details that Switzerland would share with Indian tax authorities under the Automatic Exchange of Information (AEOI) framework would include account numbers, credit balance and all kinds of financial income for each Indian client of every Swiss financial institution.
The first set in September would be followed by further despatches on a yearly basis, according to Switzerland’s Federal Department of Finance (FDF). (AGENCIES)
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