August 29, 2011 -- The government is a step closer to tracing the secret bank accounts of Indians, especially diamond traders, in Belgium.
Under pressure from India and various global forums, Belgium has finally agreed to provide information held by its banks and financial institutions to India.
The move is likely to help the government track black money parked by Indians in Belgium - a huge diamond trading hub.
The government is a step closer to tracing the secret bank accounts of Indians, especially diamond traders, in Belgium.
Under pressure from India and various global forums, Belgium has finally agreed to provide information held by its banks and financial institutions to India.
The move is likely to help the government track black money parked by Indians in Belgium - a huge diamond trading hub.
The government is a step closer to tracing the secret bank accounts of Indians, especially diamond traders, in Belgium.
Under pressure from India and various global forums, Belgium has finally agreed to provide information held by its banks and financial institutions to India.
The move is likely to help the government track black money parked by Indians in Belgium - a huge diamond trading hub.
Antwerp in Belgium is the centre of the global diamond business and many families from Gujarat are involved in diamond trading there.
Earlier this year, the government had served notices on 17 Indians for allegedly stashing away money in secret bank accounts in the LGT Bank of Liechtenstein.
Some of the biggest diamond traders from Gujarat reportedly comprised the list.
The move is likely to help the government track black money parked by Indians in Belgium - a huge diamond trading hub.
Antwerp in Belgium is the centre of the global diamond business and many families from Gujarat are involved in diamond trading there.
Earlier this year, the government had served notices on 17 Indians for allegedly stashing away money in secret bank accounts in the LGT Bank of Liechtenstein.
Some of the biggest diamond traders from Gujarat reportedly comprised the list.
The Double Taxation Avoidance Agreement (DTAA) between India and Belgium, signed in 1993, provided for exchange of information if it was held by banks or financial institutions.
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