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Swiss Bank Accounts List What Centre Gonna Do?
By: Tupaki Desk | 8 Oct 2019 10:59 AM GMT
India is one among the 75 Countries with which Switzerland's Federal Tax Administration (FTA) entered into an agreement to exchange financial details of Super Rich. And now, Indian Government received the first list of Swiss Bank Account Holders. This include the details of Swiss Bank Accounts which are currently operational and those which were closed in 2018. Federal Tax Administration is going to exchange information next time in September 2020.
Bringing back the Black Money stashed in Swiss Banks was the biggest poll promise of BJP during 2014 General Elections. The Saffron Party assured depositing Rs 15 lakh in the accounts of each family using the money of Tax Evaders. However, NDA Government failed to achieve anything in the past 5 years.
What will Centre do with the list of Black Money Holders? This information will be useful for establishing strong case against those have unaccounted wealth. The information provided by FTA include Name, Address, Tax Identification Number, Account Balance and Capital Income.
Several Indians closed down their Swiss Bank Accounts after Switzerland agreed to share info with India. Would the Central Government make them pay the price?
Bringing back the Black Money stashed in Swiss Banks was the biggest poll promise of BJP during 2014 General Elections. The Saffron Party assured depositing Rs 15 lakh in the accounts of each family using the money of Tax Evaders. However, NDA Government failed to achieve anything in the past 5 years.
What will Centre do with the list of Black Money Holders? This information will be useful for establishing strong case against those have unaccounted wealth. The information provided by FTA include Name, Address, Tax Identification Number, Account Balance and Capital Income.
Several Indians closed down their Swiss Bank Accounts after Switzerland agreed to share info with India. Would the Central Government make them pay the price?
