Swiss banks release names of two tax evading Indian women among several others

Swiss banks release names of foreign account holders

Swiss banks release names of foreign account holders: It seems as if ‘mutual assistance’ treaty between India and Switzerland is finally paying off some how.

Going into the details, Swiss government revealed names of Foreign Swiss account holders. The names are made public via its official gazette for being probed in their respective countries.

After the names were revealed, the Swiss Federal Tax Administration (FTA) has asked the two Indians to file an appeal within 30 days before the Federal Administrative Court if they do not want their details to be shared with the Indian authorities under their ‘mutual assistance’ treaty on tax matters.

On the other hand, no further details of the citizens other than their dates of birth  were made public for the two “Indian nationals” . The names are Sneh Lata Sawhney and Sangita Sawhney.

Similar is the case for other foreign nationals including the British, Spanish and Russians. However, in case of American and Israeli citizens, their full names have been withheld and they have been identified by their initials and dates of birth.

At least 40 such ‘final notices’ have been published in the Swiss Federal Gazette so far this month, while more such names are expected to be published going forward.