India among top-3 countries to get info on tax matters from Switzerland: Global Forum

by Nidhi Bhati

India has figured among the top-three countries to which Switzerland provided information on request about bank accounts and beneficiary ownership of entities established by their residents in the Alpine nation during July 2015-June 2018, according to the latest study by the Organisation for Economic Cooperation and Development (OECD’s Global Forum on transparency and exchange of information for tax purposes. The other two countries were France and Germany. The forum further stated that Switzerland has shared detailed information in more than 500 cases over the past one year regarding the accounts in Swiss financial institutions of Indian individuals and enterprises suspected to have indulged in tax frauds and other financial irregularities, while the numbers increase multi-fold after taking into account such cases from across the world.

References
1. https://economictimes.indiatimes.com/news/economy/finance/india-among-switzerlands-top-3-partners-for-info-exchange-on-tax-matters-global-forum/articleshow/76671272.cms