the sixth smallest country in the world, is landlocked between Austria
and Switzerland. The rich from the US, the UK, Canada, Italy,
Norway, Sweden, Finland and Ireland have smuggled their wealth to this
tax haven and parked their black money here.
Indian Chapter of Transparency International, an International
not-for-profit organization, working towards reducing corruption, has
urged the Government of India to take all necessary steps to seek the
data that the German Government had offered, free of charge in February
to a report by one of the newspapers, Chairman, Transparency
International India, Admiral (retd.) R H Tahiliani, former navy chief,
said, “this money belongs to the people of India and it is possible
that it has been tucked away in this distant country by those who have
acquired it illegally and are now evading tax. There should be complete
transparency and accountability about this money and it is for the
Government to find this out and inform people”.
German Government had offered to provide information on accounts to
various nations, world over including India, without charging any fees.
USA, Finland, Norway, Sweden, Canada, Italy, U.K, Ireland and other
nations expressed interest in obtaining this data.
Indian Government however has maintained a stoic silence over the issue
and has not approached the German Government for looking into this data.
It is alleged that this money belongs to the rich and powerful
politicians, industrialists and stock brokers and that is why the
reluctance on the part of Government of India, since the revelation of
names could lead to the fall of Government.
like many other countries including Switzerland, St Kitts, Antigua and
Bahamas, is a haven for moneyed people to hide their ill gotten wealth.
The crown prince of this country is alleged to be angry with Germany for
spearheading a crackdown on tax evasion investigation involving funds
hidden away in his country’s vaults. It is being said that the German
intelligence agency, BND, has details of more than 700 clients of the
LTG Bank and German prosecutors are using this information to target
hundreds of suspected tax evaders.
International India, in a press release, state, "The Indian
Ministry of Finance and PMO have however not shown much interest in
finding out about those who have their lockers in the secret banks of
Liechtenstein which prides itself of their banking system. India is a
responsible member of various world forums and a time when we are
talking of transparency and accountability, should it not be the duty of
our Government to seek information and reveal the names of the people
who have stashed away their ill gotten wealth abroad, in a bid to evade
secretive and non transparent tax havens can pose problems of terrorism
since no one knows how these will be used. It’s a global threat and
can be used any which way to harm the peace and harmony globally.
importantly, it is our money and people of India have a right to know
about the details. It belongs to us and cannot be denied to us for long
.Its time we all woke up and demand what is rightfully ours."
that the government's chariness could stem from fears that influential
politicians and industrialists might be compromised by the Liechenstein
data, TI has, in a statement, said: "It is alleged that this money
belongs to rich and powerful politicians, industrialists and stock
brokers and that is why the reluctance on the part of government of
India (to get details from Germany)."
Liechtenstein, like Switzerland, St Kitts, Canary Islands, Antigua and
Bahamas, has been a haven for wealthy people to hide their ill-gotten
wealth away from the prying eyes of tax authorities.