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Tuesday, October 19, 2021

India gets 3rd set of Swiss bank details

The Federal Tax Administration (FTA) of Switzerland said in a statement 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.

By: ENS Economic Bureau | Berne, New Delhi |
Updated: October 12, 2021 4:25:29 am
A Swiss flag is pictured in front of the Swiss National Bank (SNB) in Bern, Switzerland. (Reuters)

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 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).

While the FTA did not disclose names and further details of all 96 nations, officials said India figured among those having received the information for the third year in a row and the details shared with Indian authorities pertained to many individuals and companies having accounts in Swiss financial institutions. —With PTI Inputs

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