Year ago, I spent quite some time in market research for private banks in Singapore. Since then, things have shifted with Switzerland opening up i.e. working with countries seeking information on tax evading money and more held there. There have also been some tax increases on the wealthy. As a result, some shifted their residency / nationality to minimize their tax and estate tax situation. Other tax bolt holes cum private banking centers benefited, but it's expected that they will also be targeted by authorities in the big economies like US, Germany, India and more. What's also interesting is the role of whistle-blowers in the age of technology. At a corporate level, there are also moves by large countries to force change on corporate tax havens such as Ireland. More to come on all this, I guess?


Indian government vows to go after 'black money' stashed in Swiss bank accounts - Prime Minister Narendra Modi to crack down on countless millions of pounds in untaxed transactions by ANDREW BUNCOMBE  Thursday 23 October 2014; "The Indian authorities are trying to recover untold sums of “black money” believed to be stashed away in illicit bank accounts in Switzerland and elsewhere. Prime Minister Narendra Modi’s government has said it will imminently publish a list of names of people holding such accounts.... This week, Mr Modi’s Finance Minister Arun Jaitley raised the stakes higher by saying the government would place the names before the country’s Supreme Court when it reconvenes next week. The court is overseeing its own inquiry into untaxed funds... He appeared to suggest a number of high-profile members of the opposition Congress Party would be included in the list, said to stretch to 136 names. It has been reported that the son-in-law of Congress president Sonia Gandhi, Robert Vadra, may be among those being investigated... Earlier this month, in what was seen as a major breakthrough, the Swiss authorities said they would assist Delhi in its investigation. Switzerland, famous for its banking secrecy and discretion, has for years refused such an arrangement, was concerned that it would damage its reputation.... Switzerland has also raised issues about the way the Indian authorities have obtained the names on the so-called “HSBC list”, saying some of the information may have been stolen by former employees...."
http://www.independent.co.uk/news/world/asia/indian-government-vows-to-go-after-black-money-stashed-in-swiss-bank-accounts-9814278.html