Switzerland Black Money

India has got the second set of Swiss bank account details of its nationals and entities under the automatic exchange of information pact with Switzerland, marking a key milestone in the government's fight against black money allegedly stashed abroad.

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.

India will get all data from black money from Switzerland by the end of fiscal 2019, Union Minister Piyush Goyal said today, a day after the central European nation released data that showed money parked by Indians in Swiss banks rose over 50 per cent to 1.01 billion Swiss francs (Rs 7,000 crore) in 2017.

Seized assets include 50,000 tax-free government bonds of HUDCO and IRFC.

In a move aimed at combating black money stashed abroad, India signed an agreement with Switzerland on Thursday that would allow automatic exchange of tax-related information from January 1 2018, the Central Board of Direct Taxes said.

Paving the way for India to get instant access to details on Indians with Swiss accounts, a key parliamentary panel in Switzerland has approved an automatic information exchange pact between the two countries.

Switzerland President Doris Leuthard has said the country is committed to supporting India's fight against black money through exchange of related information.

India and Switzerland today discussed issues relating to transparency in financial transactions and agreed on early operationalisation of the automatic exchange of information on tax between the two countries in a bid to check black money.

The Committee on Economy and Royalties of the National Council or CER-N, a key panel of Swiss parliament which rejected on August 15 a proposal seeking to outrightly suspend implementation of the AEOI Switzerland has agreed to adopt with 41 nations including India, will examine the criteria a country would need to satisfy to start getting access to...

The deal will open a continuous access to details about alleged black money hoarders in once-all-secret Swiss banks.

The Income Tax department has detected over Rs 19,000 crore in black money following investigations into global leaks including HSBC account holders in Switzerland, the Indian government said on Friday.

Money parked by Indians in Switzerland's banks nearly halved to 676 Swiss francs (about Rs 4,500 crore) in 2016 to hit a record low amid a continuing clampdown on the suspected black money stashed behind their famed secrecy walls.

Indians have "few deposits" in Swiss banks compared to other global financial hubs like Singapore and Hong Kong, says a grouping of private bankers in Switzerland after its government formally ratified automatic exchange of financial account information with India on Friday. The move is meant to flush out black money, much of which is stacked in Sw...

Starting 2019, India and Switzerland will exchange of financial account information - a move meant to flush out black money, much of which is parked in Swiss banks.

Switzerland today ratified automatic exchange of financial account information with India and 40 other jurisdictions to check black money deposits. The Swiss Federal Council in a statement said the protocol will be implemented in 2018, and the first set of data will be exchanged in 2019.

India has got the second set of Swiss bank account details of its nationals and entities under the automatic exchange of information pact with Switzerland, marking a key milestone in the government's fight against black money allegedly stashed abroad.

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.

India will get all data from black money from Switzerland by the end of fiscal 2019, Union Minister Piyush Goyal said today, a day after the central European nation released data that showed money parked by Indians in Swiss banks rose over 50 per cent to 1.01 billion Swiss francs (Rs 7,000 crore) in 2017.

Seized assets include 50,000 tax-free government bonds of HUDCO and IRFC.

In a move aimed at combating black money stashed abroad, India signed an agreement with Switzerland on Thursday that would allow automatic exchange of tax-related information from January 1 2018, the Central Board of Direct Taxes said.

Paving the way for India to get instant access to details on Indians with Swiss accounts, a key parliamentary panel in Switzerland has approved an automatic information exchange pact between the two countries.

Switzerland President Doris Leuthard has said the country is committed to supporting India's fight against black money through exchange of related information.

India and Switzerland today discussed issues relating to transparency in financial transactions and agreed on early operationalisation of the automatic exchange of information on tax between the two countries in a bid to check black money.

The Committee on Economy and Royalties of the National Council or CER-N, a key panel of Swiss parliament which rejected on August 15 a proposal seeking to outrightly suspend implementation of the AEOI Switzerland has agreed to adopt with 41 nations including India, will examine the criteria a country would need to satisfy to start getting access to...

The deal will open a continuous access to details about alleged black money hoarders in once-all-secret Swiss banks.

The Income Tax department has detected over Rs 19,000 crore in black money following investigations into global leaks including HSBC account holders in Switzerland, the Indian government said on Friday.

Money parked by Indians in Switzerland's banks nearly halved to 676 Swiss francs (about Rs 4,500 crore) in 2016 to hit a record low amid a continuing clampdown on the suspected black money stashed behind their famed secrecy walls.

Indians have "few deposits" in Swiss banks compared to other global financial hubs like Singapore and Hong Kong, says a grouping of private bankers in Switzerland after its government formally ratified automatic exchange of financial account information with India on Friday. The move is meant to flush out black money, much of which is stacked in Sw...

Starting 2019, India and Switzerland will exchange of financial account information - a move meant to flush out black money, much of which is parked in Swiss banks.

Switzerland today ratified automatic exchange of financial account information with India and 40 other jurisdictions to check black money deposits. The Swiss Federal Council in a statement said the protocol will be implemented in 2018, and the first set of data will be exchanged in 2019.