The report by the International Consortium of Investigative Journalists, a network of more than 600 journalists including Indian, revealed the way world leaders and billionaire business people have used shell companies and offshore tax havens to park undeclared wealth.
The biggest stumbling block to booking the persons involved in money laundering and large-scale tax evasion is the tedious procedure for exchange of information. Tax havens are understandably reluctant to share information but no country in the world is willing to part with information that has the potential of harming its citizens, so, procedural reasons are routinely cited to deny the request for information from foreign jurisdictions.
Days after his name appeared in the “Paradise Papers”, Union Minister of State for Civil Aviation Jayant Sinha on Wednesday…
The 50 largest US companies, including Apple, Microsoft and Wal-Mart, are parking about $1.6 trillion in offshore tax havens to…
