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Black money: Switzerland reveals names of two Indians

Berne: Switzerland has published the names of foreigners wanted for tax frauds after requests from Russia, France, Germany, India and other countries. Among these names of two Indian women have also been made public by Switzerland in its official gazette for being probed in their respective countries.

This practice may mark the end of the Swiss bank privacy tradition, dating back to the 1930s.

The government has decided to list the names, birth dates and nationalities of alleged tax evaders in its federal newspaper. 

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.

However, other than their names and date of births, no further details were made public for the two "Indian nationals"- 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.

This move comes after the government of Switzerland received formal requests from several foreign tax authorities.

Despite repeated requests from India, including through at least four letters written by former Finance Minister P Chidambaram, Switzerland had maintained that its local laws prohibit administrative assistance in matters where information has been sourced illegally, including through stolen lists.

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