Swiss Exposes Neo Corp as Stash Holder

Published: 09th September 2015 05:15 AM  |   Last Updated: 09th September 2015 05:15 AM   |  A+A-

NEW DELHI: In yet another disclosure on suspected black money cases, Switzerland on Tuesday said that the Indian tax authorities have requested for information on Indore-based Neo Corp International Ltd.

The Indian authorities are already conducting a probe against Neo Corp on tax evasion charges.  The Swiss Federal Tax Administration (FTA) has served a notice on Neo Corp, asking it to file an appeal within 30 days before the Federal Administrative Court if they do not want their details to be shared with the Indian authorities under their mutual assistance treaty on tax matters.

“The notice of appeal must contain the request, the reasons with reference to the evidence and the signature of the complainant or their representatives,” the notification said.

Founded on February 15, 1985, Neo Corp is the latest in a series of Indian companies and individuals named in the official gazette of the Swiss Government.

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