swiss bank accounts

The Swiss Parliament today gave approval to amendments to tax treaties with countries, including India, making it easier for to access information about the illegal funds held by their nationals in Swiss private banks. The upper house of the Swiss Parliament endorsed amendments to double-taxation agreements in line with internationally applicable standards. Full Article

The income-tax department is preparing to send another Letter Rogatory to Swiss authorities, seeking details of Pune-based stud farm owner Hasan Ali Khan's Swiss Bank accounts . As part of this exercise, it has asked the Enforcement Directorate to provide a copy of the statements given to it by Khan, accused of siphoning off $8 billion to an unreported Swiss bank account. Along with the statement of Khan, the I-T department has also asked ED to part with a copy of the st.. Full Article

The Bharatiya Janata Party on Tuesday asked the Centre to immediately declare names of the Indians who had stashed black money in Swiss Banks. "The United Progressive Alliance government should, without any hesitation, make public names of all thos Full Article

The revised tax treaty between India and Switzerland, to enable access to Swiss accounts of tax evaders, seems to have hit bureaucratic hurdle as the two governments are yet to notify each other on the required legal and procedural approvals. As per Full Article

As reported by us earlier The government is planning to comprehensively revise tax treaties with as many as 25 nations, including Switzerland and Mauritius, and re-negotiate with 51 others, to trace black money. The government plans a comprehensive revision of the existing tax treaties with 25 countries, including the Swiss Confederation, Mauritius, Malaysia, Norway and the Netherlands among others. Full Article

The Swiss government has agreed to loosen its banking secrecy laws and share data on tax evasion cases that India may be pursuing, as part of a renegotiation of the Double Taxation Avoidance Agreement that the two countries signed in 1995. Such a reformulated tax agreement will help tighten the legal noose on tax evaders [...] Full Article

In a major embarrassment for the Indian government, the Swiss Justice Department on Monday said it had received forged documents from New Delhi two years ago in connection with an alleged Rs.40,000 crore ($8 billion) money laundering case involving racehorse breeder Hassan Ali.  “The documents submitted are forged,” Folco Galli, a spokesperson for the Swiss government, told a private [...] Full Article