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Switzerland to share information on Indians holding Swiss Bank Accounts from '18

India and Switzerland signed a Joint Declaration for implementation of Automatic Exchange of Information (AEOI) between the two countries. 
●    The declaration was signed in respect to accounts of Indians held abroad and vice versa. The deal was inked on 22 November 2016 in New Delhi.
●    With this, India had joined a list of select countries with which Switzerland will exchange all financial information automatically. It will be done on a reciprocal basis for tax purposes.
●    The Joint Declaration was inked by Chairman of Central Board of Direct Taxes Sushil Chandra and Deputy Chief of Mission of Swiss Embassy in India, Gilles Roduit.
●    It will make possible for India to receive the financial information of accounts held by Indian residents in Switzerland for 2018 and subsequent years, on an automatic basis.
●    The exchange will begin from September 2019.
●    The data will be shared annually.
●    As per the declaration, details about accounts held before 2018 will not be shared.

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