Crackdown on tax havens tops India agenda at G20
Date : Sep-15-2009 09:29
The growing popular attitude against tax havens, which is used by the high net worth individuals in order to avoid taxes, will form a big part of the program for the G-20 meeting at St Petersburg, Russia. However, India is all set to press for a serious clamp down on tax havens yet again. Moreover, it is said that Prime Minister Manmohan Singh is likely to press for more strict rules for preventing rerouting of black money from tax havens like Mauritius where non-residents part their money with zero to sub-zero tax rates.
Additionally, India''s agenda for G-20 will include a cut-off date for compulsory tax related information sharing between investee countries and tax havens. On the other hand, it is also anticipated that India will be looking for stricter rules for a clamp down on thinly capitalized shell companies whereas this is the second time when the world leaders like US president Barack Obama, British PM Gordon Brown and Dr Singh will discuss the issue of tax havens at the same forum.
Date : Sep-15-2009 09:29
The growing popular attitude against tax havens, which is used by the high net worth individuals in order to avoid taxes, will form a big part of the program for the G-20 meeting at St Petersburg, Russia. However, India is all set to press for a serious clamp down on tax havens yet again. Moreover, it is said that Prime Minister Manmohan Singh is likely to press for more strict rules for preventing rerouting of black money from tax havens like Mauritius where non-residents part their money with zero to sub-zero tax rates.
Additionally, India''s agenda for G-20 will include a cut-off date for compulsory tax related information sharing between investee countries and tax havens. On the other hand, it is also anticipated that India will be looking for stricter rules for a clamp down on thinly capitalized shell companies whereas this is the second time when the world leaders like US president Barack Obama, British PM Gordon Brown and Dr Singh will discuss the issue of tax havens at the same forum.
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