Swiss banks' profit rises; staff count down
Under glare for being an alleged safe haven for illicit funds from across the world, Swiss banks saw their profits rise during 2014 to close to 19.5 billion Swiss francs even as their staff count declined in the year.
Jun 18, 2015, 16:34 PM IST
Money held by Indians in Swiss banks declines by 10.6% to Rs 12,615 crore
Money held by Indians in Swiss banks has declined by 10.6 percent to Rs 12,615 crore in 2014, as per the latest data released by the Swiss Central Bank.
Jun 18, 2015, 15:17 PM IST
EU releases world tax havens blacklist
The European Union published its first list of international tax havens on Wednesday as part of a crackdown on multinational companies trying to avoid paying tax in the 28-nation bloc.
Jun 17, 2015, 17:56 PM IST
Black money: Switzerland asks banks to check illegal asset flows
Under pressure from India and other nations to act against black money menace, Switzerland will put in place stricter due diligence norms for banks to prevent inflow of illicit assets into the country.
Jun 05, 2015, 22:22 PM IST
Black money: India in global pact for automatic exchange of financial info
India and five other nations Wednesday joined a multilateral agreement for automatic exchange of financial information, a move that will help it combat tax evasion and deal with the problem of black money.
Jun 03, 2015, 21:23 PM IST
EU-Switzerland accord to end banking secrecy, curb tax evasion
The European Union and Switzerland signed a major accord Wednesday to end banking secrecy for EU residents and prevent them from stashing undeclared income in Swiss banks.
May 27, 2015, 21:05 PM IST
Switzerland, EU sign automatic information exchange pact
In a major step towards shedding its long-held banking secrecy tag, Switzerland Wednesday signed an agreement for Automatic Exchange of Information (AEOI) with European Union.
May 27, 2015, 17:18 PM IST
Fight against black money: Swiss get 1,500 help requests a year
Gearing up for a new legal framework to help India and other countries in their fight against black money, Switzerland has said it gets 1,500 administrative assistance requests a year.
May 14, 2015, 19:34 PM IST
Money laundering cases rise to record high in Switzerland
Long considered a safe haven for suspected black money, Switzerland has reported a sharp rise in the 'suspicious activity reports' received by its Money Laundering Reporting Office to a record high level of 1,753.
Apr 29, 2015, 18:38 PM IST
Blackmoney: Swiss banks seek fresh undertakings from Indians
The latest development comes at a time when India is aggressively making efforts to bring back illicit money parked by its citizens overseas and Switzerland has also agreed to co-operate on the issue.
Mar 29, 2015, 12:52 PM IST
Automatic info exchange talks with India at 'earliest': Swiss
The assertion from Switzerland, which has been long perceived as a safe haven for stashing illicit wealth, comes close on the heels of the Alpine nation inking an initial pact for automatic exchange of tax information with European Union.
Mar 22, 2015, 15:11 PM IST
Black money law: Foreign property to be taxed at current price
Indians having undisclosed property abroad will have to pay tax and penalty on the basis of the current market value of the asset, and not at the purchase price, as per the new black money bill.
Mar 22, 2015, 12:15 PM IST
Client confidentiality will not disappear, assert Swiss banks
India is expected to start getting information under this regime from Switzerland, about bank account and other details of Indians, from 2018.
Mar 19, 2015, 18:08 PM IST
HSBC's India headcount up by 1,000; US staff size down
At the centre of a probe into black money allegedly stashed by Indians in Swiss banks, global banking giant HSBC increased its headcount in India by 1,000 last year to 32,000 -- the second highest after the UK.
Feb 24, 2015, 14:52 PM IST
Distinguish between legitimate funds and black money: Parekh
In the wake of a new list revealing names of nearly 1,200 Indian account holders in Swiss banks, eminent banker Deepak Parekh on Tuesday said the government should distinguish between legitimate and illicit funds before taking any action.
Feb 10, 2015, 13:18 PM IST
HSBC `SwissLeaks` leaker urges more support for whistleblowers
The man who stole the trove of secret files that sparked a global scandal over banking giant HSBC`s alleged assistance to wealthy tax dodgers called Monday for more protections for whistleblowers.
Feb 10, 2015, 04:36 AM IST
Swiss bank on safe haven label to become world's data vault
Switzerland, facing an erosion of the banking secrecy laws that helped make it the world`s banker, is now touting its reputation as a safe and stable haven to become a global data vault.
Jan 28, 2015, 09:54 AM IST
Swiss banks lose sheen among Indians as secrecy heads for end
Nonetheless, a large number of Indians present here at Davos had scheduled meetings with bankers and top executives of various small and large Swiss banks.
Jan 25, 2015, 14:45 PM IST
Switzerland ends euro minimum exchange rate, cuts interest rate
In a shock announcement Thursday, Switzerland`s central bank said it was ending a three-year bid to artificially hold down the value of the Swiss franc against the euro, in a move that immediately sent the safe haven currency soaring.
Jan 15, 2015, 17:47 PM IST
Black money: CBDT issues directive to finish probe by March 31
Investigations against black money holders in Swiss bank accounts have been put on a fast-track as the CBDT has asked tax sleuths to gather all evidences and render final action by March-end.
Jan 13, 2015, 16:49 PM IST
