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Swiss to give no quarter

Tuesday, 24 June 2014 - 6:20am IST | Place: New Delhi | Agency: dna

Switzerland on Monday denied preparing any list of suspected Indian tax evaders as reported in sections of Indian media, and categorically said it would cooperate only if India seeks information under the Swiss legal framework.

The Union finance ministry also clarified it has not received any official communication from Switzerland. It, however, said it will send a letter to the European nation seeking details of Indians who have stashed away money there.

"We are not preparing any list of Indian account holders. The information reported in some sections of the media is wrong. Besides, no bank, as per law, can communicate with India independently," spokesperson of Switzerland's State Secretariat for International Financial Matters, Mario Tuor, told dna over phone.

India has been requesting Switzerland for assistance in mapping the alleged tax evaders after a former employee of HSBC's Geneva branch Hervé Falciani stole some data a few years back and sold it to the French authorities. The CD containing the names of the clients of the bank, also included names of 782 Indian nationals.

Switzerland has signed treaties with India and 35 other countries to provide administrative assistance in tax matters, in accordance with international standards.

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