{"id":315489,"date":"2019-10-07T14:14:51","date_gmt":"2019-10-07T14:14:51","guid":{"rendered":"http:\/\/tehelka.com\/?p=315489"},"modified":"2019-10-07T14:14:51","modified_gmt":"2019-10-07T14:14:51","slug":"india-gets-first-tranche-of-swiss-bank-account-details-of-its-residents","status":"publish","type":"post","link":"https:\/\/tehelka.com\/india-gets-first-tranche-of-swiss-bank-account-details-of-its-residents\/","title":{"rendered":"India gets first tranche of Swiss bank account details of its residents"},"content":{"rendered":"<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\"><img decoding=\"async\" loading=\"lazy\" class=\" wp-image-315490 aligncenter\" src=\"http:\/\/tehelka.com\/wp-content\/uploads\/2019\/10\/bank.jpg\" alt=\"\" width=\"541\" height=\"352\" srcset=\"https:\/\/tehelka.com\/media\/2019\/10\/bank.jpg 470w, https:\/\/tehelka.com\/media\/2019\/10\/bank-300x195.jpg 300w\" sizes=\"(max-width: 541px) 100vw, 541px\" \/><\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">India has got the first tranche of Swiss Bank details of its residents under a new Automatic Exchange of Information agreement.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">India is among 75 countries with which the Switzerland&#8217;s Federal Tax Administration (FTA) has exchanged information on financial accounts within the framework of the global standard on the automatic exchange of information (AEOI), sources said.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">This is the first time that India has received details from Switzerland under the AEOI framework, which provides for exchange of information on financial accounts that currently active as well as those accounts that were closed during 2018.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">The next exchange would take place in September 2020.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">According to reports, the exchange is governed by strict confidentiality clauses and the officials of FTA refused to disclose specific details on the number of accounts or about the quantum of financial assets associated with the accounts of Indian clients of Swiss banks.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">The exchanged details include identification, account and financial information. These include name, address, tax identification number and state of residence, as well information concerning the financial institution, account balance and capital income.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India has got the first tranche of Swiss Bank details of its residents under a new Automatic Exchange of Information agreement. India is among 75 countries with which the Switzerland&#8217;s Federal Tax Administration (FTA) has exchanged information on financial accounts within the framework of the global standard on the automatic exchange of information (AEOI), sources [&hellip;]<\/p>\n","protected":false},"author":59,"featured_media":315490,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[36],"tags":[3226],"_links":{"self":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/315489"}],"collection":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/comments?post=315489"}],"version-history":[{"count":1,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/315489\/revisions"}],"predecessor-version":[{"id":315491,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/315489\/revisions\/315491"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media\/315490"}],"wp:attachment":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media?parent=315489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/categories?post=315489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/tags?post=315489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}