Monday 27 January 2020
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The News - 2 month ago

Switzerland grants Pakistan access to bank data from 2021

BERN: The Switzerland Parliament has approved to grant Pakistan, among eighteen countries, to access its financial data starting from 2021.The development would allow Pakistan authorities to learn how much money Pakistanis have in Switzerland.The Swiss parliament approved on Tuesday a new batch of countries for automatic exchange of financial information (AEOI), international media reported.This means that Switzerland will provide details of bank accounts held by their citizens (or those with a fiscal residence in Switzerland). Meanwhile, in return, Switzerland will receive information on banking details of accounts held by Swiss citizens/residents in these partner countries. The 18 countries are Albania, Azerbaijan, Brunei, Dominica, Ghana, Kazakhstan, Lebanon, Macau, Maldives, Nigeria, Niue, Oman, Pakistan, Peru, Samoa, Saint Martin, Trinidad and Tobago and Vanuatu.

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