Switzerland Steps Up Process To Share Details Of Indians Having Suspected Illicit Money In Swiss Banks Accounts


June 04, 2019

Over the last month, Switzerland issued notices to 14 Indian nationals with accounts in the banks based in the country to share details of their accounts with Indian tax officials, marking a big win for India’s efforts to identify black money holders and bring back the money, reports Business Today.

The latest Indian national to have received .such a notice is Potluri Rajamohan Rao in which he has been given one last chance to appeal against sharing of his account details with India within ten days.

It has been reported that many more such notices are in the offing in the coming weeks as India has sought details about a large number of Indian clients of Swiss banks who are suspected to have indulged in illicit financial activities. It should be noted that in the preceding week, on a single day, 11 Indian nationals had been sent such notices on 21 May.

The steps taken by the Switzerland are aimed at re-establishing its position as the global financial centre by clamping down on secrecy walls of its banks. The initiatives in this regard are being led by the Federal Tax Administration (FTA) of Switzerland.

” The central govt needs to get all the black money parked inside and outside the country.”– Editor, Vedic Upasana Peeth

Source : Swarajyamag



Leave a Reply

Your email address will not be published. Required fields are marked *

Related Post


Notice : The source URLs cited in the news/article might be only valid on the date the news/article was published. Most of them may become invalid from a day to a few months later. When a URL fails to work, you may go to the top level of the sources website and search for the news/article.

Disclaimer : The news/article published are collected from various sources and responsibility of news/article lies solely on the source itself. Vedic Upasana Peeth or its website is not in anyway connected nor it is responsible for the news/article content presented here. ​Opinions expressed in this article are the authors personal opinions. Information, facts or opinions shared by the Author do not reflect the views of Vedic Upasana Peeth and Vedic Upasana Peeth is not responsible or liable for the same. The Author is responsible for accuracy, completeness, suitability and validity of any information in this article. ​
© 2017. Vedic Upasna. All rights reserved. Origin IT Solution