ForumIAS announcing GS Foundation Program for UPSC CSE 2025-26 from 10th August. 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
