New Delhi, December 24: A cash-starved global economy and determined political manoeuvring helped start uncover tax havens this year, but so far it is the US that has managed a peek into secret Swiss accounts while India only got as far as round-table meetings to ask for its chance.
The US-Swiss deal giving the Internal Revenue Service access to 4,450 secret accounts came after bitter wrangling that even put their bilateral ties in jeopardy. The deal created cracks in Switzerland’s banking secrecy ways.
India too went to Switzerland hoping to chip away any loose concrete in the secrecy vault, but hasn’t gone beyond round-table discussions in Geneva.
–Agencies