India to get third set of Swiss bank details this month
The Hindu
Information on real estate assets included for first time.
India will get this month the third set of Swiss bank account details of its nationals under an automatic exchange of information pact with Switzerland and this will include for the first time the data about real estate properties owned by Indians there, officials said on Sunday. Marking a key milestone in the Indian government's fight against black money allegedly stashed abroad, India will get this month the complete information on flats, apartments and condominiums owned by Indians in Switzerland as also on earnings made from such properties to help it look into tax liabilities associated with those assets. The move assumes significance on the part of Switzerland as well as the European Alpine nation is trying hard to reposition itself as a key global financial centre while warding off the long-persisting perception about the Swiss banking system being an alleged safe haven for black money.
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