Black money has been a problem for India since long. Corrupt leaders from all political parties, business firms, public celebrities, and corporate houses involve in tax avoidance activities. They deposit their black money in Swiss bank and other countries notorious as Tax heaven countries.
Due to Economic slowdown, rapidly increasing debt, negative growth and large scale lay off all over the world, several countries of the world were putting pressure on Switzerland to share the details of bank account holders who deposit black money in Swiss bank.
Amid growing pressure, Switzerland has now agreed to share the details of bank account holder details (of Swiss bank) with India and 40 other countries.
This will help the Indian government to eliminate the elements who steal the money of the common people of this country. So, black money holders in India, get ready to be grilled by the CBI, ED, Tax department, INDIAN police and other law enforcement agencies. Best of luck Tax Black money holders!