The names of many Indians, including Anil Ambani, came in the leaked documents of HSBC bank that they have opened accounts in Swiss banks to avoid tax.
On April 29, the Supreme Court of Switzerland has ordered that Switzerland’s bank account information in the names of Reliance Group’s Anil Ambani, his wife Tina Ambani and their two children be shared with the Government of India. Under this, India will share information of Anil Ambani and his family’s transactions in Swiss bank from April 2011 to September 2018.
After the agreement between India and Switzerland, the Government of India had sought information from the Swiss Government about the account of Indians deposited in Swiss bank. In this regard, the matter reached the Supreme Court of Switzerland. Now the Supreme Court has asked the Swiss Bank and the Government of Switzerland to provide this information to the Government of India.
A Swiss magazine has reported on this. Although the order copy of the court reads A, B, C, D instead of the name of Anil Ambani and his family, but according to the reporter from the Swiss magazine, the journalists reporting to the court are allowed to see the file in the court and Write their names in that file.
The names of many Indians, including Anil Ambani, came in the leaked documents of HSBC bank that they have opened accounts in Swiss banks to avoid tax. However, the Government of India is currently refraining from making public the names of all those listed in the black money list.
India has got two sets of information on Swiss bank accounts
In October last year, India received a second set of information on Swiss bank accounts of its citizens and institutions under an automatic exchange of information system, an important breakthrough in the government’s fight against black money stashed abroad. Was considered India is one of the 86 countries with which Switzerland’s Federal Tax Administration (FTA) shared financial accounts information on AEOI within the global standards framework. India received its first set of details from Switzerland in September 2019 under AEOI (automatic exchange of information). At that time, 75 countries were involved in it.
The next such exchange will take place in September 2021. The first such exchange of Switzerland took place at the end of September 2018 and included 36 countries. At that time India was not included in this list. At present, about 8,500 financial institutions (banks, trusts, insurers, etc.) are registered with the FTA. These institutions submit data to the FTA.
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