Why swiss banks are counted as safest banks in the world ?<br />Switzerland has had an extremely stable <br /> economy and infrastructure for many years. <br />Swiss bankers are also highly trained in investing<br />and know how to grow your money.<br />Swiss franc is considered one of the world's<br />premier currencies with virtually zero inflation <br /> and has been historically backed by at least <br /> 40 percent gold reserves. <br />Swiss banks are also known to have very <br />sophisticated investment services and<br />Internet banking.<br />
And we can pay Rs. 1 lakh to each of 45 crore poor families.</li></li></ul><li>What Makes Swiss Bank Special<br /><ul><li>Privacy:</li></ul>If a banker divulges information about a bank account without permission, immediate prosecution is begun by the Swiss public attorney.<br />Bankers face up to six months in prison and a fine of up to 50,000 Swiss francs.<br /><ul><li> Low Risk:</li></ul>--- Switzerland has had an extremly stable economic and infrastructure for many years andhasn’t been at year with another country since 1505.<br />
<ul><li>History Of Swiss Bank:</li></ul> For over 300 years, Swiss bankers have had a code of secrecy regarding banking and their account holders. <br /> It began with the kings of France who required strict secrecy, had high financial needs and had the ability to always pay back their loans.<br /><ul><li>Nazi Gold:</li></ul>Many European Jews deposited their life savings in Swiss banks when World war II broke out during the 1930s and 1940s. And, after the war many were not allowed to recover their assets because their documentation was gone.<br />
Taxation<br /><ul><li>Swiss residents pay 35 percent tax on the interest or dividends their Swiss bank accounts and investments earn. This money is namelessly turned in to the Swiss tax authorities.
For non-residents of Switzerland there are no taxes levied on those earnings, unless:
You're a U.S. citizen and invest in U.S. securities from your Swiss bank account
You're a resident of a country that's part of the European Union (EU)</li></li></ul><li>Any ways of retrieval?<br /><ul><li>The Indian government needs to take some serious steps to get the money back to India which is stashed in Swiss banks. They should work to find out the names of account holders in Swiss banks and also pressurize Swiss bank to get the black money back to the country.</li></ul>India and Switzerland had signed an agreement on August 30, 2010 to amend the Double Taxation Avoidance Agreement (DTAA) with a view to facilitating exchange of information between the two countries<br /> The Group of Minister (GoM) under Mukherjee is also looking into the issues concerning corruption and black money. The government is under attack from various quarters for its inability to check corruption; more recently, social activist Anna Hazare has started fast unto death to press the government to enact an effective Lok Pal Bill.<br />