According to Swiss banking report, Indians have more undeclared booty hidden away in secret accounts than all the rest of the world combined.!!!
If the estimated $1,456 billion of Indian money secreted in offshores banks were to be brought back to the country, India's foreign debt would be wiped out some 13 times over and there's still be some spare change left !!!
The UK goverenment has reportedly struck a deal with the Swiss authorities whereby, from 2013 , Switzerland will tax the Swiss ank accounts of UK citizens and transfer this money to the British exchequer. the British taxmen hope to gain between 3 billion and 6 billion Pounds a year !!!!
Why dosen't the Indian Government try and do something along the same lines??
CAclubindia
