I posted on 4 February ,2011 a List of People from holding account in Swiss Banks. Here is an update on the people who have stashed the black money in Swiss Banks,
Tag: Swiss National Bank
It is new that one hears about Black Money running a parallel Economy in India. It assumes such proportions that The Central Board of Direct Taxes The Voluntary Disclosure Scheme on June 18, 1997. It continued till December 31, 1997 and it netted a revenue of Rs 7800 Crore to the Government of India. In January … Continue reading Indian Black Money Sources,Processes Estimates Detail
Zurich/ New Delhi: India has slipped to 70th position in terms of foreign money lying with Swiss banks and accounts for a meagre 0.10 per cent of total global wealth held in the country's banking system. While much hue and cry is made over huge amounts of illicit wealth stashed by Indians in Swiss banks, the latest official data released by Switzerland's central bank shows that the money they owed to Indian clients at the end of last year was 1.42 billion Swiss francs (aboutRs. 9,000 crore). While the UK continues to account for the largest chunk of such funds, India has now slipped lower to 70th position - the lowest rank among all major economies of the world, shows an analysis of annual data released by Swiss National Bank (SNB) on all the banks present in the European country(NDTV June 23,2013) Do not for a moment feel elated as the money might have been shifted to Caribbean offshore account.! I have a Post on this Please read my blog on Rajiv Gandhi 2.5 Billion Francs under corruption. Figures in the story,does it include Rajiv's? I can not count the zeroes. Story: The revised Tax treaty between India and Switzerland which will be placed before the Swiss Parliament for final approval is creating nightmares to those tax evaders who have cheated tax to the tune of Billions of Rupees. (Weak heart people may skip the below paragraphJ) It is believed that an astonishing sum of around 1400 Billion dollars of black money is deposited in Swiss banks by the Indian Tax evaders. This amount is equivalent to 6300000,00,00,000 INR which is about 13 times larger than the country's foreign debt !!!!
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