Common Reporting Standard Current Affairs, GK & News

India, Switzerland Automatic Exchange of Financial Account Information kicks in

Automatic Exchange of Information (AEOI) Regime between Switzerland and India kicked off from September 1, 2019. Under this mechanism, India will start receiving information on all financial accounts held by Indian residents in Switzerland, for the year 2018. Central Board of Direct Taxes (CBDT) has hailed this move as a significant step in the government’s ..

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India, Switzerland sign Joint declaration on bank account holders

As a step towards fighting black money stashed abroad, ‘Joint Declaration‘ for implementation of Automatic Exchange of Information (AEOI) has been signed between India and Switzerland. This will lead to automatic sharing of information regarding the Swiss bank accounts held by Indians as of September 2018 and onwards. However, details about the accounts held prior ..

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Multilateral Convention relating to Tax Matters inked by India

· Indian finalized a Multilateral Convention on Mutual Administrative Assistance in Tax Matters. This device as yet was available only for the members of Council of Europe and OECD , but was amended in 2010 and thrown open to all countries from last June. The Meeting was amended to answer this year’s G20 call for ..

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