Black money: India-Swiss data sharing from Jan. 1

In a move aimed at combating black money stashed abroad, India signed an agreement with Switzerland on Thursday that would allow automatic sharing of tax-related information from January 1 next year, the CBDT said.

“With the completion of the parliamentary procedure in Switzerland and signing of mutual agreement, India and



Switzerland are set for automatic exchange of information for the period beginning from January 1, 2018,” the Central Board of Direct Taxes said.

The policy-making body for the Income Tax Department said the agreement was signed by CBDT chairman Sushil Chandra and Swiss Ambassador to India Andreas Baum at the North Block here.