Swiss government to accept group requests for banking information from February - NEWS
The bank details of a ‘group of persons’ will be now provided by Swiss government. The details will be provided even without individual identification, told an official at World Economic Forum meeting.
Swiss government passed a new Tax Administrative Assistance Act which came into existence from Feb 1. The resolution was passed by Switzerland’s Federal council for revealing information of Swiss bank account holders.
The act was passed as a result of pressure on global front on Swiss authorities for not providing the details of account holders who have unaccounted wealth stored in Swiss bank accounts.
Swiss government has provided assistance to foreign countries including India for exchanging information but request for ‘group of persons’ is not accepted so far.
With the enforcement of the TAAA, group request will now be available with consideration of international standards, said an official at World Economic Forum meeting.
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