India to get 3rd set of Swiss bank details this month

By: TP News Date: 9/13/2021 10:34:11 AM

New Delhi :

India will this month get the third set of Swiss bank account details of its nationals under an automatic exchange of information pact with Switzerland and this, for the first time, will include data on real estate properties owned by Indians there, officials said on Sunday.

Marking a key milestone in the Indian Government's fight against black money allegedly stashed abroad, India will get complete information on flats, apartments and condominiums owned by Indians in Switzerland as also earnings made from such properties. The move assumes significance on the part of Switzerland as it is trying hard to re-position itself as a key global financial centre while warding off the long-persisting perception about the Swiss banking system being an alleged safe haven for black money.

While the Swiss Government has agreed to share details of real estate assets, information on contributions to NGOs as also details on digital currency investments still remain out of bounds