- India has received new details about Swiss bank accounts in the fifth annual information exchange between the two countries, covering ‘hundreds of financial accounts’ linked to individuals, corporates, and trusts.
- The shared information, which will be used in investigations of suspected tax evasion and other wrongdoings, includes identification, account, and financial data, but the amount involved was not disclosed due to confidentiality.
- The Swiss Federal Tax Administration has exchanged financial account information with 104 countries under the global Automatic Exchange Of Information (AEOI) standard, with India being a prominent recipient for the fifth consecutive year.
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