Under pressure to bring back the black money stashed abroad, India has sought Liechtenstein government’s help in taking action against those alleged to have kept illicit wealth in a bank of the European country. A spokesperson for the Liechtenstein government confirmed to PTI that a request has been made by its Indian counterpart for administrative assistance in relation to some Indian clients of LGT Bank, based in the European country located near Switzerland.
However, the Liechtenstein government is unlikely to entertain India’s request in the absence of any bilateral tax treaty between the two countries.
“But we are working towards the common goal of establishing a treaty that enables us to exchange information in the future, according to the international standards,” the government spokesperson said in reply to emailed queries.
