| Posted on 9/22/2011 | Posted in PolyTricks
*Rollies* Swiss Ambassador Philippe Welti says that the total deposits of Indian individuals and companies with all the Swiss banks was collectively about $2 billion at the end of 2010. And Now Swiss is ready to share all the details of the Secret bank accounts held by Indians if provided any request by the Ministry according to the framework of the revised DTAA treaty between the two nations.
I have googled to know what that DTAA agreements is and what it says. Then I got to know that DTAA is a Double Taxation Avoidance Agreement between Swiss and India. It was approved by Swiss Parliament on June 17th that would allow access to details of the citizens having unaccounted money in Swiss banks. The treaty is open to scrutiny by Swiss people for 100 days after the ratification by Parliament. And that period may ends on October 6. But India had inked an agreement to revise the DTAA in August 2010. It seems that, once it in force, the treaty would allow India to seek information for cases related to tax evasion also.
The real wonder is, Mr. Welti is saying that No request till now has been gone thorough him and he had also added that he is not the only the channel that the request can go through. It could also go straight through the ministries.
He says that they assume that every thing, the each and every penny deposited in their banks is legal and he is also saying that the tax evasion is not a crime there, but here it is. How can Swiss *assume* that everything is legal? If everything is legal, what is the use of depositing all the money in Siwss banks rather than in Indian banks. He adds It is for the Indian Government to make a case if they think that something out of this is illegal he added. Looks like he isindirectly directly saying “If India has a Will to do something, they are ready to share all the details of the Indian Swiss-account holders”. He said No need of any account numbers and all, just Name is enough for them to track the deposits. But there is no response from our Prime Minister, Finance Minister, or Ambassador. Why? They too have accounts? It’s no wonder because even small Ministers themselves were maintaining the accounts. Huh, that’s how India is going. I really want to see India as US which takes severe & serious actions against all the issues. India is spineless and I must say it is shameless too.
The real wonder is, Mr. Welti is saying that No request till now has been gone thorough him and he had also added that he is not the only the channel that the request can go through. It could also go straight through the ministries.
He says that they assume that every thing, the each and every penny deposited in their banks is legal and he is also saying that the tax evasion is not a crime there, but here it is. How can Swiss *assume* that everything is legal? If everything is legal, what is the use of depositing all the money in Siwss banks rather than in Indian banks. He adds It is for the Indian Government to make a case if they think that something out of this is illegal he added. Looks like he is
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