Swiss Govt Passes an Act for the Return of Black Money

by on February 26, 2011

The Switzerland Government has reportedly passed a federal act on the restitution of assets of savers. The closest example of this is former President of Egypt Hosni Mubarak. As per this act the authorities have the right to confiscate frozen assets and, subject to conditions, return them to the country of origin.

Hence the hefty sums which have been hoarded by the dictators of developing countries into the Swiss banks can now be returned to their original jurisdiction. This act would be effective this month onwards which is also likely to aid the projects as a sequel to historic legal reforms.

The report in The Times suggests that, this act by the Swiss Government can actually take possession of the frozen assets and give them back to the country they came from.

Also a historic legal deal by London and Berne which would turn Swiss banks into de facto agents of Revenue and Customs is likely to be achieved. The Swiss bankers too are being exhorted to evaluate the tax liabilities of UK residents with funds in their institutions.  The UK Government has been trying hard pushing its counterparts to make sure that the Swiss bakers do so.

Rudolf Elmer, a former Zurich-based banker is said to have transferred two computers discs to WikilLeaks. This was a few weeks ago. However the regular series of data thefts has made the clients of Swiss banks much more concerned and worried.

Judith Ingham, Head of Geneva office of Withers asserted that several Swiss banks had said that they wanted the like clients to become tax-compliant in their home jurisdictions.

He further added, “And many are saying that if you don’t become compliant in your home jurisdiction, we will not be able to continue to give you the full service that we have done in the past. That is a sea change. You can see 55-year-olds trying to make their mouths move in a way that says this. It is not something that they’ve ever been interested in or worried about in the past”.

{ 27 comments… read them below or add one }

Sanjeev March 2, 2011 at 1:56 am

It is very important to take action on the black money issue and the government should understand the people who are living under below poverty line and unemployed youth. If the government get that money back, only thing i can say that the india will be the legend and top most country in the world. I kindly request the govetnment to take serious action on this issue.

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gollo katung June 9, 2011 at 3:39 am

Government of India should now take steps to returned the asset to India. The democratic people of India will be greatfull to congress government if the make it possible.

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Santosh Pandey June 12, 2011 at 10:56 pm

are u the same gollo katung who has has done his BE from Govt. College of Engineering, chandrapur….if yes….plsssssssssssssssss call me on 9560359797

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Suv July 4, 2011 at 10:07 pm

It is foolishness to expect the Indian Government to bring home black money, because they are comprised of leaders who themselves own black money.

It is estimated that Indians stash 1.4$ trillion in Swiss banks.

A large portion of this black money would definitely belong to various political parties and leaders – Congress in particular, since they have been in power for most of the time.

And bringing back the money would not solve problem of poverty – it would simply contribute to inflation, if this money is indiscriminately utilized and pumped to Indian market – i.e. supply (food, commodities, etc.) remain static and demand (due to increased buying power) increase. The best way to utilize this money would be to buy gold, and strengthen rupee and also buy oil and reduce foreign debt, use that money instead of foreign reserves, invest in buiding national infrastructures, transfer of technology, research, defense, set up free schools, wider healthcare facilities, aforestation etc.

As I said – its never gonna happen. Sweet dreams.

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Dinesh N Patel June 9, 2011 at 8:49 pm

As long as Sonia Gandhi and family in charge nothing will happen.

It’s a suicide time for Sonia Gandhi and family for the them, if black money and corruption law are pass by TEAM ANAA.

Gandhi family will make sure Indian are unestablished for her benefit & Gain.

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surya June 11, 2011 at 3:41 am

i ammmmmmmm indian so that this money is return by india and fast of name canditates

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Firoz June 15, 2011 at 10:01 pm

280 लाख करोड़का सवाल है …
भारतीय गरीब है लेकिन भारत देश कभी गरीब नहीं रहा”* ये कहना है स्विस बैंक के
डाइरेक्टर का. स्विस बैंक के डाइरेक्टर ने यह
भी कहा है कि भारत का लगभग 280
लाख करोड़

रुपये उनके स्विस
बैंक में जमा है. ये रकम
इतनी है कि भारत का आने वाले 30सालों का बजट

बिना टैक्स के
बनाया जा सकता
है.
या यूँ कहें कि 60 करोड़

रोजगार के अवसर
दिए जा सकते है. या यूँ भी कह सकते है
कि भारत के किसी भी गाँव से दिल्ली तक 4
लेन रोड बनाया
जा सकता है. ऐसा भी कह
सकते है कि 500 से ज्यादा सामाजिक प्रोजेक्ट पूर्ण किये जा सकते है. ये
रकम
इतनी ज्यादा है कि अगर हर भारतीय को 2000 रुपये हर महीने भी दिए जाये तो 60
साल तक ख़त्म ना हो. यानी भारत को किसी वर्ल्ड बैंक से लोन लेने कि कोई जरुरत
नहीं है. जरा सोचिये … हमारे भ्रष्ट राजनेताओं
और नोकरशाहों ने

कैसे देश को

लूटा है और ये लूट का सिलसिला अभी तक 2011 तक जारी है.
इस सिलसिले को
अब रोकना

बहुत ज्यादा जरूरी हो गया है. अंग्रेजो ने हमारे भारत पर करीब 200 सालो तक राज
करके करीब 1 लाख
करोड़ रुपये लूटा. मगर आजादी के केवल64 सालों में हमारे भ्रस्टाचार ने 280
लाख करोड़ लूटा है. एक तरफ 200 साल में 1 लाख करोड़ है और दूसरी तरफ केवल 64
सालों में 280 लाख करोड़ है. यानि हर साल लगभग 4.37 लाख करोड़, या हर महीने
करीब 36 हजार करोड़ भारतीय मुद्रा स्विस बैंक में इन भ्रष्ट

लोगों द्वारा जमा
करवाई गई है. भारत को किसी वर्ल्ड बैंक के लोन की कोई दरकार नहीं है. सोचो की

कितना पैसा हमारे भ्रष्ट राजनेताओं और उच्च अधिकारीयों ने ब्लाक करके
रखा हुआ
है. हमे भ्रस्ट राजनेताओं और भ्रष्ट अधिकारीयों के खिलाफ जाने का पूर्ण अधिकार
है.हाल ही में हुवे घोटालों का
आप सभी को पता ही है – CWG घोटाला,२ जी
स्पेक्ट्रुम घोटाला , आदर्श होउसिंग घोटाला… और ना जाने कौन कौन
से घोटाले
अभी उजागर होने वाले है ……..आप लोग जोक्स फॉरवर्ड करते ही हो. इसे भी इतना

फॉरवर्ड करो की पूरा भारत
इसे पढ़े … और एक आन्दोलन बन जाये…

Jai Hind

Reply

Jai Hind June 20, 2011 at 7:37 am

What? Really? How? Blah!

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RAVI June 27, 2011 at 4:37 am

BEST SAID DUDE

JAI HINDI

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Amit July 4, 2011 at 10:30 pm

Hum sab sath hai.

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yadav June 22, 2011 at 3:09 am

its nice move by swiss government. if our government was true to our people ,they wil take steps on it

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Shiladitya Saha June 25, 2011 at 3:29 am

The black money belongs to our country. In India, millions of people are under poverty line.
Government should take actions on these. $1,456 billion is not a small amount of black money. This can remove poverty from our country.

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Amit Kumar Srivastwa June 29, 2011 at 12:08 am

Let’s suppose you have diposited ur money in swiss bank. Then you never wish or try to get back that money to india. Same thing with the goverment people. These money belongs to him.Thats only the reason they won’t. Congress family and politicians cheated to india since independence or before that.They will never try to get back those money to india.
I wish some one came and resolved this issue.
God please help us!!!!!!11

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Vasudevan July 1, 2011 at 10:25 pm

Dr. Subramanya swamy stated that Smt. Sonia gandhi has one lack crore of black money in Swiss bank. He added that the name of Bank in which the black money stashed is aware to him. If it is false allegation why smt. Sonia is keeping mum. ?.Every INDIANS have right to know the truth. The appropriate authorities must clarify the genuineness of the allegations made by Dr. Swamy.

V.Devan

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rignesh August 13, 2011 at 7:14 am

you r rait i am join u

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Veeru August 15, 2011 at 5:47 am

It is a huge money, I am told that It is 75 lakh crores…additionally apart from it, so much of money is stored in undergrounds and secret places with in india.(especially in swamiji ashrams).

God, if this is karma bhoomi…why are you tolerating so much of sin…Help us!!!!

I proud to be Indian!!!!!

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Rahul Sharma August 22, 2011 at 9:43 pm

are hame to apno ne luta giaro mai kaha dam tha
hame too apno ne dubaya pani itna dam kaha tha
“main ye nahi kehta ki logo ko paise ki chahat nahi hoti
or honi b chaeye par aise paise kaa b kya karna jise hum use hi naa kar paye

” so insaan ke liye itna paisa hi kaafi hota hai jitna wo utilize kar sake
so dont be silly

aage aapki marzi

Rahul sharma

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Vasu August 30, 2011 at 9:36 am

I request Indian Govt., Pls recover our wealth.

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TRIBHUVAN SINGH August 31, 2011 at 10:21 pm

jai

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sekar September 1, 2011 at 12:02 pm

It is very very important to take action on the black
money issue and the government should
understand the people who are living under
below poverty line and we can give free education for everyone. If the
government get that money back, we are top most richest country in the world. I kindly request the
govetnment to take serious action on this issue.

Reply

manish September 7, 2011 at 12:15 am

Swiss govt. want to help the Indian Govt. Its good.

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srikanth September 11, 2011 at 10:41 pm

we cant bring back the black money if their is anything it could be the 8th wonder

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Mohsin khan September 18, 2011 at 5:30 pm

Ye sara black money hum sab Garib indian (aam admi) ka KHOON Chose Chose kar hamary NETA aur Udyog pati ne jama kar rakha hai. INDIAN GOVT KO wo paisa SWISS BANK se Wapas lana chahiye. Aur Sab se PAHLY INDIA SE PAISA BAHAR JAANY PAR GOV KO ROKE LAGANA CHAHIYE .

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Mohsin khan September 18, 2011 at 5:36 pm

Hamy to HINDUSTANIYON NE LUTA ANGREZO ME KAHAN DAAM THA. (Black money) . INDIAN GOVT ME ITNA DAM NAHI HAI K WO KALA PAISA SWISS BANK SE WAPAS LA SAKY.

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sunil bhat December 29, 2011 at 7:26 am

ye black money kisliye swiss banks mein rakha jata hai..taki ye log sab facilities enjoy kar sake..apne bacho ko behtar education de..achi health facilities etc..
par aagar ye sab black money hum apne desh mein late hai to kya hum apne desh mein behtar education, behtar health facilities, road, electriciy, achi jobs..kya kuch nahi kar sakte..

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sakthi February 10, 2012 at 9:07 am

If you are an true indian,
what will happen,if black money return back to home.I remain one proverb
“DIE COMES 6 OR 60 THAT DESIDES GOD “ WHY ARE YOU FAIR-(THIS IS FOR PARTICULARS)”

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Shinde pramod March 22, 2012 at 10:35 am

I think ,the black money in india is verry dengeras problem, this money is very importnce of indias future. when it will be return to india then definetly very powerfull became to india.and then complite the dreem of A.P.G.Abdul kalam’s 20-20 in India.

Reply

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