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Thursday, October 28, 2021

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SWISS BANK NEWS

India to get 3rd set of Swiss bank details this month; info on real estate assets included for 1st time

September 12, 2021 11:15 pm

While it would be the third time that India will get details about bank accounts and other financial assets held by Indians in Switzerland, it will be the first time that the information being shared with India would include information about the real estate assets.

Swiss authorities to FinMin: Bank customer deposits not necessarily located in Switzerland

July 21, 2021 12:38 am

Last month, the Finance Ministry had sought details from the Swiss authorities on the relevant facts along with their view on possible reasons for changes in funds parked by Indian individuals and entities in 2020.

Indians' funds in Swiss banks rise to over Rs 20,000 cr on surge in securities, institutional holdings

June 18, 2021 2:14 pm

hile the funds classified as 'customer account deposits' have actually declined from CHF 550 million at the end of 2019 and those through fiduciaries also more than halved from CHF 7.4 million, the money held via other banks rose sharply from CHF 88 million in this period.

Indians' money in Swiss banks down 6% in 2019; hits 3rd lowest in over three decades

June 25, 2020 8:07 pm

These are official figures reported by banks to SNB and do not indicate the quantum of the much-debated alleged black money held by Indians in Switzerland.

Explained: India will get Swiss bank details of Indians from today. What does this mean?

September 01, 2019 7:15 pm

This is not a new measure. In 2016, India and Switzerland had signed an information-sharing deal on bank accounts, which was to come into effect from September 2019.

Swiss banking details of Indians to be made available from tomorrow

August 31, 2019 7:57 pm

Central Board of Direct Taxes (CBDT, which frames policy for the Income Tax Department, said that this is a significant step in the government's fight against black money and the era of "Swiss bank secrecy" will finally be over from September.

Swiss banks accounts: Indian details to be transferred

July 10, 2019 3:14 pm

Pointing to volume, Swiss office says several dispatches may be needed. According to the two Swiss agencies, India is among 73 countries with whom information on bank accounts will be shared this year — AEOIs were implemented with 36 countries last year.

Vijay Mallya faces setback in his case to save London home

November 21, 2018 10:23 pm

The case relates to a mortgage taken out by Rose Capital Ventures, one of Mallya's companies, with the 62-year-old businessman, his mother Lalitha and son Sidhartha, listed as having the right of occupancy on the property.

Amid govt's 'clampdown' on black money, Indians' money in Swiss banks rise 50 per cent

June 28, 2018 11:36 pm

On Supreme Court's direction, the government had constituted a Special Investigation Team (SIT) to probe cases of alleged black money of Indians, including funds stashed abroad in places like Switzerland.

Swiss man stands trial in Germany on spying charges

October 18, 2017 12:31 pm

The state of NRW has for years irritated Switzerland by buying data as part of a crackdown on Germans stashing cash in secret accounts to avoid paying tax. The state has spent 17.9 million euros since 2010 on data that has helped it recover nearly 7 billion in tax revenue.