<span style="color: #222222;">India and Switzerland held Secretary-level bilateral meeting today in New Delhi and discussed enhanced cooperation in the fight against tax evasion.<br />'' <br />'' An official release said, the Secretaries expressed satisfaction over the progress made over the past few years in the area of administrative assistance in tax matters, particularly the efforts made by Switzerland in providing assistance in HSBC cases.<br />'' <br />'' Welcoming the first transmission of financial account information on automatic basis between the two countries in September 2019, the Secretaries reiterated their countries' commitment to global tax transparency for tackling offshore tax evasion.<br />'' <br />'' This automatic exchange of financial account information will usher a new era of financial transparency as Indian tax administration will now know the details of all bank accounts held by Indians in Switzerland.<br />''<br />''The Secretaries encouraged the competent authorities of both countries to further collaborate and share experiences with the aim of continuously enhancing the quality of the exchanged data.</span><br />