Black Money Investigations – Switzerland begins making public the names of Indians and people of other countries whose accounts are related to the
Swiss. Two Indian women figure in the list along with many foreign nationals with Swiss bank accounts, whose names have been made public by Switzerland in its official gazette for being probed in their respective countries.
Finally Switzerland Starts Disclosing Names Of Account Holders
Making public the names of account holders, the Swiss Federal Tax Administration (FTA) has asked the two Indians to file an appeal within 30 days before the Federal Administrative Court if they do not want their details to be shared with the Indian authorities under their ‘mutual assistance’ treaty on tax matters. However, no further details other than their dates of birth were made public for the two “Indian nationals” – Sneh Lata Sawhney and Sangita Sawhney.
Similar is the case for other foreign nationals including the British, Spanish and Russians. However, in case of American and Israeli citizens, their full names have been withheld and they have been identified by their initials and dates of birth. At least 40 such ‘final notices’ have been published in the Swiss Federal Gazette so far this month, while more such names are expected to be published going further. The alleged stashing of unaccounted money by Indians in Swiss banks has been a matter of great debate in India.
The Indian government has been pushing the Swiss authorities for a long time to share information on the suspected tax evaders, while Switzerland has shared some details in cases where India has been able to provide some independent evidence of suspected tax evasion by Indian clients of Swiss banks.
While there was no immediate reply to queries mailed to the FTA spokesperson in this regard, these names are being published in the Swiss Federal Gazette in the backdrop of the Swiss government being flooded with requests on suspected black money hoarders in Swiss banks from various countries including India.