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India Launches Tax Evasion Investigations

by Mary Swire, Tax-News.com, Hong Kong

19 August 2013


The Indian Income Tax Department has begun inquiring into the information on so-called "tax havens" acquired by the International Consortium of Investigative Journalists (ICIJ).

Earlier this year, it emerged that the ICIJ had received around 2.5m confidential documents from an anonymous source, containing details of the tax affairs of 130,000 individuals from over 170 countries.

The Minister of State for Finance, Jesudasu Seelam, has told parliament that the tax authorities are now working with their counterparts in other jurisdictions to obtain information on the Indian entities allegedly operating in "tax havens." According to Seelam, the ICIJ is in possession of documents relating to 498 Indian cases. However, while the ICIJ's website contains the names and addresses of those apparently involved, it does not go into detail on any financial transactions.

TAGS: individuals | compliance | Finance | tax | tax compliance | India | tax avoidance | ministry of finance | tax authority | revenue statistics

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