India receives 3rd set of Swiss bank details under automatic info exchange framework
Zee News
The exchange took place last month and the next set of information would be shared by Switzerland in September 2022
New Delhi: India has received the third set of Swiss bank account details of with Switzerland as part of an annual exercise under which the European nation has shared particulars of nearly 33 lakh financial accounts with 96 countries.
The Federal Tax Administration (FTA) of Switzerland said in a statement on Monday that the exchange of information this year involved 10 more countries -- Antigua and Barbuda, Azerbaijan, Dominica, Ghana, Lebanon, Macau, Pakistan, Qatar, Samoa and Vauatu.
While the exchange was reciprocal with 70 countries, Switzerland received information but did not provide any in the case of 26 countries -- either because those countries do not yet meet the international requirements on confidentiality and data security (14) or because they chose not to receive data (12).
