New Delhi: Finance Minister Arun Jaitley had assured India and said that NDA government is very much committed to bring back the black money which had been stashed in foreign countries.
Jaitley said, “Country will not have to wait for long for bringing back black money. We are giving all information received from abroad on black money to Supreme Court. Tax havens have started giving information on black money.”
During his addressing in Lok Sabha, FM said, “Retrospective tax sends a bad signal, doesn’t help economy. Government will take a final view on retrospective tax laws.”
Switzerland has been refusing to share details on names obtained by Indian authorities through other countries, namely France and Germany, saying they figured in lists stolen by certain ex-employees of the concerned banks and no details can be shared on the basis of illegally-obtained information.
A high-level delegation from Switzerland had held discussions on tax matters with the Indian government officials in New Delhi in February this year.
According to latest data, Swiss Federal Tax Administration received a total of 1,386 requests during 2013, down from 1,499 in the previous year 2012. The number of such incoming requests stood at only 370 in 2011.
In comparison, the Swiss Federal Tax Administration made six outgoing requests to other countries in 2013, up from two in 2012 and just one in 2011.
The latest data from the Swiss National Bank had showed that the money in Swiss bank had been increased to 14,100 crore from 8,547 crore with in a year in the end of 2013.
Bureau Report
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