Bringing Black Money to Light: India’s New Undisclosed Foreign Income and Assets Billby Melanie Botho Emmen |
Earlier
this year, India’s Parliament passed a new bill aimed at unearthing
"black money," unreported and often illicit funds stored abroad as a
means of tax avoidance. This move, spearheaded by Finance Minister Arun
Jaitley, could not come at a better time, both from a political position
for Prime Minister Narendra Modi as well as in terms of taking
advantage of global action targeting tax havens used to stash ill-gotten
gains around the world. While doubts exist as to the ability of India
to fully enforce the Undisclosed Foreign Income and Assets (Imposition
of Tax) Bill, 2015, it is certainly a step in the right direction. Read more of this posthttp://globalanticorruptionblog.com/2015/07/20/bringing-black-money-to-light-indias-new-undisclosed-foreign-income-and-assets-bill/#more-3596
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