Swiss banks lost clients from India : FBI THE famously secretive Swiss private banks are trying to persuade Indians to bring back the money they have pulled out from their numbered accounts in these banks. In the last three year,more than a hundred Indians with secret accounts have shifted money from Switzerland to other banks in the USA, Dubai Free Trade Zone and Singapore amid fears of regulatory and government action.
Jethmalani seeks SIT,FBI & CBI probe into Swiss bank a/cs
Govt must apply all probes to bring back money & do the justice by applying POTA & TADA to Swiss account holders. Bangalore IT top three business man has got Billions of Billions of dollar in the Swis Bank & moving the money to different countries. Govt will look into last three years transaction from swiss bank.
Level of evasion and punishment:
Tax evasion is a crime in almost all developed countries and subjects the guilty party to fines and/or imprisonment - in China the punishment can be as severe as the DEATH penalty. In Switzerland, many acts that would amount to criminal tax evasion in other countries are treated as civil matters. Even dishonestly misreporting income in a tax return is not necessarily considered a crime. Such matters are dealt with in the Swiss tax courts, not the criminal courts. However, even in Switzerland, some fraudulent tax conduct is criminal, for example, deliberate falsification of records.
Re: Swiss banks lost clients from India : FBI
by Som Mittal on Jun 19, 2010 07:24 PM
'Indian cos created 60,000 jobs in US' by using SWISS BANK MONEY
Although India has become synonymous with outsourcing, Indian companies created nearly 60,000 jobs in the US between 2006-09 through nearly 500 investment and acquisition deals worth $26.5 billion.
Indian companies has to pay average $10,000/PM to each employee in USA as compare to Rs 10,000/PM in India.
Indian companies are heavily investing in USA, Brazil & singapore to make SWISS BANK MONEY LEGAL.
When the bail-outs get exhausted, companies will need to cut-back. Because more money is floated in the market in the form of bail-out, there will be inflation.
Re: attrition is what will slow down our industry not protectioni
by krishna vamsi on Jun 19, 2010 12:18 PM
Companies should be taught a lesson that their past deeds will hunt them. Companies like HCL,Wipro,Mphasis which throwed away people with out notice should be aware that it is very difficult for employees to trust them because of their acts.
