India Seeking Tax Dodger Info From Swiss Authorities

India has said it is writing to the Swiss authorities, seeking details of Indians who have parked untaxed wealth in Swiss banks.

Finance Minister Arun Jaitley’s comments came after reports that Switzerland was sharing with Delhi a list of Indians holding “black money”.

The Swiss said there had been no meeting with Delhi since February, but it was committed to fight tax evasion.

Indians are estimated to hold $500bn (£297bn) in overseas tax havens.

India recently set up a special task force to find “black money”, in one of the first decisions taken by the government of the new prime minister, Narendra Modi.

“We are today writing… to the Swiss authorities with whom the ministry has been in touch so that details with regard to whatever information the authorities have can be expedited and the co-operation between the Swiss authorities and the government of India can bring fruitful results. Our communication will be sent today,” Mr Jaitley told reporters on Monday.

“News has appeared in various sections of the media quoting Swiss authorities that they are willing to actively co-operate with the government of India in giving details about Indians who hold bank accounts in the Swiss banking system,” he added.

via BBC

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