Swiss banks ask India to ensure secrecy for info
    Swiss banks ask India to ensure secrecy for info - Business Standard
    Switzerland premiere governing body, Swiss Federal Council, has agreed to share financial data with India. The council agreed to ratify sharing of data...

    Switzerland' premiere governing body, Swiss Federal Council, has agreed to share financial data with India.The council agreed to ratify sharing of data under the codes of AEOI (Automatic Exchange of Information).The AEOI standard governs how tax authorities in participating countries could exchange banking data at the same time safekeeping accounts of taxpayers.About six years ago, India and Switzerland had amended their bilateral tax treaty to enable India to obtain access to Indians holding secret accounts.

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