India, Switzerland sign Joint declaration on bank account holders

India and Switzerland today signed a Joint Declaration in New Delhi for implementation of Automatic Exchange of Information between two countries in respect of accounts of Indians held abroad.

Ministry of finance in a release said, the Joint Declaration was signed by Chairman of Central Board of Direct Taxes Sushil Chandra and Deputy Chief of Mission of Swiss Embassy in



India, Gilles Roduit.The Ministry said, it will make possible for India to receive the financial information of accounts held by Indian residents in Switzerland for 2018 and subsequent years, on an automatic basis from September 2019.

It also said that fighting the menace of black money stashed in offshore accounts has been a key priority area for the government.