India gets third set of Swiss bank account details

  • The swiss bank information exchange took place last month and the next set of information would be shared by Switzerland in September 2022

PTI
Updated11 Oct 2021, 02:56 PM IST
India had received the first set of details of Swiss Bank account under AEOI (Automatic Exchange of Information) in September 2019
India had received the first set of details of Swiss Bank account under AEOI (Automatic Exchange of Information) in September 2019

India has received the third set of Swiss bank account details of its nationals under an automatic exchange of information pact 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) in a statement on Monday said 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 of information 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 countries, 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 a large number of individuals and companies having accounts in Swiss financial institutions.

The exchange took place last month and the next set of information would be shared by Switzerland in September 2022.

India had received the first set of details from Switzerland under AEOI (Automatic Exchange of Information) in September 2019. It was among 75 countries to get such information that year.

Catch all the Budget News , Business News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:11 Oct 2021, 02:56 PM IST
HomeNewsIndiaIndia gets third set of Swiss bank account details

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Indian Oil Corporation

    176.85
    03:53 PM | 25 JUL 2024
    8.1 (4.8%)

    Bharat Electronics

    301.30
    03:59 PM | 25 JUL 2024
    1.15 (0.38%)

    Bharat Petroleum Corporation

    326.00
    03:59 PM | 25 JUL 2024
    11 (3.49%)

    NTPC

    392.05
    03:52 PM | 25 JUL 2024
    -0.5 (-0.13%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Data Patterns India

    3,391.95
    03:47 PM | 25 JUL 2024
    307.6 (9.97%)

    Jyothy Labs

    547.15
    03:53 PM | 25 JUL 2024
    39.2 (7.72%)

    Tata Motors DVR

    747.10
    03:47 PM | 25 JUL 2024
    45.6 (6.5%)

    Tata Motors

    1,091.05
    03:52 PM | 25 JUL 2024
    63.4 (6.17%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      71,295.00-117.00
      Chennai
      70,534.00-182.00
      Delhi
      70,672.00-44.00
      Kolkata
      70,672.00-44.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.86/L0.00
      Chennai
      100.75/L-0.03
      Kolkata
      104.95/L0.00
      New Delhi
      94.72/L0.00
      OPEN IN APP
      HomeMarketsPremiumInstant LoanBudget