Black money investment in Swiss bank..!? India got 4th..!!

Sowmiya Sriram
Black money investment in swiss bank..!? india got 4th..!!

There are constant complaints that indians and indian companies invest in swiss banks to avoid paying taxes. In this case, accepting the government's request for details of indians holding black money in swiss banks, swiss banks have now published the list of indians holding accounts in swiss banks. This is the fourth list that india has received. It also includes accounts of many trusts and corporations. The government has not made public the list of these account holders. The government has not released the names because it could jeopardize the investigation. The swiss released a list of 3.4 million people who have accounts.
Switzerland shares a list of 3.4 lakh account holders with 101 countries, including India. It includes accounts of hundreds of people from India. Switzerland's Federal Tax Administration (FTA) said that india is among the countries to which the list of account holders has been sent for the fourth consecutive year. The information was sent to all countries last month, the FTA said. Now the next phase of such information is said to be sent in september 2023.
Swiss banks did not disclose the names of 101 countries or other information. But bank officials say that india is also on the list of countries receiving this information. 27 countries, including Russia, were not provided with any information about their account holders. It is said that the reason for this is that while some information has been requested from those countries, the relevant documents have not been provided properly and therefore the details could not be provided.
India first got the information in 2019. It pressured the swiss government along with other countries for this. Since then, the swiss government has signed an agreement to automatically send a list of account holders to various countries every year. According to indian government sources, receiving such information from swiss banks provides information about people depositing black money abroad. Also, it is said that it is possible to know how much money and jewels are kept in the swiss bank.
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