'Switzerland to act on principle of law on banking issues'

New Delhi, Apr 17 (PTI) In the backdrop of the demand by
India's main opposition BJP on bringing back money stashed in
banks abroad, Switzerland Friday said it would always play
according to the "principle of law" if any request about
disclosure of bank accounts was made.

Talking to reporters here, Switzerland Ambassador
Philippe Welti said as of now there were no such requests with
his government.

"One has to first see the request," Welti said and added,
"We would always play according to the principle of law, in
case any such request was made."

Refusing to comment on BJP Prime Ministerial candidate LK
Advani's demand for bringing back money stashed overseas, he
said, "I would not comment on what has been said in your
election campaign. I do not judge whose voice matters."

Welti said Switzerland was going to revise bilateral laws
pertaining to tax fraud and evasion, including new taxation
policies. Provisions would be made in the mutual agreements
with Governments for tax evasion and tax fraud, he added.

Defending the banking laws of Switzerland, he said, "The
banks are supposed to know the customers and ask the origin of
the funds. These are guarantees of honest banking."

"It is not to protect criminals, but to protect honest
people who have legitimate rights. If there is any demand,
then the particular Government can ask for the data," he said,
adding that the principle of right to protection of privacy
would be safeguarded. PTI SPC
PMR
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