Updated By: LatestGKGS Desk
India Switzerland sign joint declaration next step Demonetisation
India and Switzerland signs joint declaration to fight against the menace of black money
This declaration was signed on the introduction of Automatic Exchange of Information in tax matters.
Switzerland to implement Automatic Exchange of Information in India to receive the financial information of accounts.
Joint declaration signed between chairman of CBDT, Sushil Chandra and Deputy Chief of Swiss embassy in India, Gilles Roduit
The signing of joint declaration agreement would enable India to receive financial information of account held by Indian residents in Switzerland for 2018 and 2019 onwards.
Automatic Exchange of information in India would be implemented based on multilateral Competent Authority agreement.
This is a next step towards demonetisation to retrieve the data of the accountholders.
