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Switzerland sends notices to Indians for trusts set up in tax havens

Individuals suspected to have moved abroad after evading taxes back in India are being probed too.

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5 min read Last Updated : Jan 05 2020 | 9:58 PM IST

Indian and Swiss authorities are investigating trusts set up in overseas tax havens for seemingly evading taxes by parking illicit funds in Switzerland banks, as per notices issued to those entities.

Individuals suspected to have moved abroad after evading taxes back in India are being probed too and their bank details are in the process of being shared by the Swiss authorities with their Indian counterparts.

Individuals, trusts and companies based in Cayman Islands have been asked to appoint their nominees to appeal against sharing of their banking details with India, according to notices published in Switzerland's federal gazette since

Topics : Black money Swiss banks Money laundering Switzerland

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