Indians' Deposits Reach 14-Year-High Nearly Rs 30,500 Crore In Swiss Banks
According to Switzerland's central bank annual report on June 16, funds deposited in Swiss banks by Indian individuals and corporations reached a 14-year high of 3.83 billion Swiss francs (about Rs 30,500 crore) in 2021. This was owing to significant growth in assets via securities and consumer deposits. The sum of money in Indian… read-more
Tags: India, Funds, swiss bank, deposits, Switzerland
Courtesy: Zee News
Vijay Mallya & Family Loses Legal Battle To Retain London Home; Faces Eviction
Indian fugitive business tycoon, Vijay Mallya and his family, will be evicted from their lavish home in London. Vijay Mallya held a mortgage obtained from Swiss Bank UBS on the property. The mortgagee won the case against Mallya after he failed to meet a previous repayment deadline in April 2020. The Court refused a request by Mallya`s lawyers for a stay on repaying the UBS loan.
Tags: India, United Kingdom, Vijay Mallya, swiss bank, UK High Court
Courtesy: Zee News
Good News! Switzerland To Release Data Of Indian Owned Assets
Under the Automatic Exchange of Information pact with Switzerland, India will receive the third set of details about its citizen's accounts in swiss banks by September. Moreover, Switzerland will share information regarding real estate properties owned by the Indians for the first time. Reportedly, it'll help India to impose taxes on the income from such sources. While Switzerland will try to mitigate the allegation of safe haven for black… read-more
Tags: swiss bank, Black Money, Real Estate, Switzerland
Courtesy: WION News
Switzerland Shares Information Of Swiss Bank Account Holders
Switzerland on October 9 shared data of about 3.1 million Swiss bank accounts to 86 countries under the Automatic Exchange of Information pact. Reportedly, the data released includes a "sizeable number" of accounts related to Indian citizens and entities. However, the exact numbers are not disclosed. The data is said to help tax authorities to determine whether the account holders have filed their tax returns in accordance with their… read-more
Tags: Switzerland, swiss bank, tax, India
Courtesy: The Times Of India