Oh my god its unbelievable. these many people having swiss account that means many people are taking Government money and changing it into black money and deposting in swiss account. This is really bad on politicians
This topic never ceases to enthuse us but a pragmatic solution lies in Indian government approaching Swiss authorities and enter into agreement to deduct withholding taxes on the interst on these account and repatriate the same to us as UK did!
UK did it....but the case was different...swiss banks were caught by the UK authorities with proof about illegal transactions..for not disclosing those documents, swiss banks had to accept the terms which UK wanted..it will never happen again..
swiss banks have agree ments with many countries. But handing over the black money is not among them.the banks helps the countries to identify tax evasions. But no country can force swiss banks to reveal it.
