When: 22 - Nov - 2016
What: India and Switzerland sign Joint Declaration for Automatic Exchange of Information.
Where: New Delhi
Who signed the declaration?
Sushil Chandra, Chairman, Central Board of Direct Taxes, on behalf of India and Gilles Roduit, Deputy Chief of Mission of Swiss Embassy in India.
What is the benefit of this joint declaration?
It will be possible for India to receive the financial information of accounts held by Indian residents in Switzerland.
Indian black money in Swiss Bank:
In 2010, On request for information by the Indian Ministry of External Affairs, the Swiss Ministry of External Affairs reported the estimate of INR 92.95 Billion deposit by citizens of India.
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