Pre-cum-Mains GS Foundation Program for UPSC 2026 | Starting from 5th Dec. 2024 Click Here for more information
Black money: India-Swiss data sharing from Jan. 1
Context
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
Backdrop
The policy-making body for the Income Tax Departmentsaid the agreement was signed by CBDT chairman SushilChandra andSwiss Ambassador to IndiaAndreas Baum at the North
Block here
Joint declaration
A joint declaration for the implementation of Automatic Exchange of Information was signed lastmonth between the twosides here, and it providedthat both countries wouldstart collecting data in accordance with the globalstandards in 2018 and ex-change it from 2019 onwards
Discover more from Free UPSC IAS Preparation For Aspirants
Subscribe to get the latest posts sent to your email.
