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No
request from India for secret bank data: Swiss Ambassador
Thursday, October 21, 2010 10:43:34 PM, IANS
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Chennai:
The Switzerland government has not received any request from the
Indian government for sharing the names of tax evaders who have
stashed away their illicit money in Swiss banks, the Swiss
Ambassador to India Philippe Weiti said Wednesday.
"It is for India to decide which cases they want to file requests
for under the revised treaty," said Weiti, who was here to
participate in a investment promotion event organised by the
Confederation of Indian Industry (CII).
India and Switzerland signed in August this year the amended
Double Taxation Avoidance Treaty, which will help the government
seek details about the ill-gotten money allegedly stashed away by
Indians in Swiss banks.
"Our government has to ratify the amended treaty. It is just a
formality. The Indian government has informed us that the treaty
has been ratified by it," Weiti told reporters.
A large number of Indians are alleged to have assets worth
billions of dollars in banks in Switzerland. And the issue of
Indians having secret Swiss bank accounts was a poll plank during
last year's general elections.
About the increasing trade ties between the two countries, Weiti
said Indian companies could partner with small and medium Swiss
enterprises, which are finding it difficult to find successors to
run the businesses.
Citing the 66 percent stake purchased by Hindustan Construction
Company in Swiss infrastructure planning company Karl Steiner AG,
he said: "That is the trend we see now. Ninety percent of the
Swiss economy consists of SMEs."
Earlier addressing the gathering, he said Switzerland provides
access to overseas companies to the huge European markets. "It is
better to go global via Switzerland."
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