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Swiss Banks
Black money is no more an issue with India says Swiss envoy
ANI -
Traditionally, Switzerland was seen as a safe tax haven for Indian businessmen, politicians and industrialists.
India receives the first list of details of its Swiss Bank account holders under Automatic Exchange Information Agreement
According to Automatic Exchange of Information agreement signed by India and Switzerland, India received the first set of list of Indians having Swiss Bank accounts
Obligated by the agreement with Modi, Swiss authorities to share details of 50 Indians nationals holding accounts in Swiss banks
Since Modi came to power, money parked by Indians in Swiss banks started reducing drastically
As part of AEOI agreement with India under Modi, Switzerland-based banks notifies 11 Indians to share bank account details
In about a decade the funds held by Indians with Swiss banks went down to almost one-tenth
Switzerland’s top court allows sharing of data with Indian authorities in tax evasion cases
The court as a result rejected an appeal by two Indian citizens
Indian money parked in Swiss banks hits all time low
The current amount in Swiss banks is even less than one-third of the amount reported in 2014.
