tax haven

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Finance Minister’s Address at EEC – 2011

Income Tax - The following achievements are noteworthy: a) Huge network of amended DTAA (81) and TIEA with tax havens (4) has been created. b) Specific requests in 333 cases (220 by Foreign Tax Division of CBDT and 113 by FIU) have been made by Indian authorities for obtaining information from foreign jurisdictions. c) Over 9900 pieces of Information ...

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Income Tax department tracking your visit to tax havens

Income Tax - Desperate to curb the flow of blackmoney into the country's economy, the Income Tax department has now begun to track all fliers and visitors who travel to tax havens like Switzerland, Virgin Islands and Bahamas for personal or business purposes secretly. The department has focussed its intelligence and investigation scanner on all such t...

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Income tax department to deploy its officials in tax havens to check evasion

Income Tax - The income tax department will soon post 10 of its officers in tax haven nations to collect information about alleged tax evasion by Indians from these countries, an official in the finance ministry said. Concerns have been raised in the recent past over suspicion of round tripping or routing of Indians' illicit money back into the countr...

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Switzerland to share tax information with India- official

Income Tax - Dismissing the perception that Switzerland is a tax haven, a senior Swiss government official today expressed hope that the revised tax avoidance treaty with India will be ratified during the year, following which Swiss authorities would provide administrative assistance to India to deal with cases of tax evasion....

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Income Tax offices soon in several foreign countries, tax havens

Income Tax - The government may soon be able to obtain classified financial data from tax-haven countries and some foreign shores as it plans to set up new overseas Income Tax offices in countries like the US, the UK and Cyprus to liaise with local tax authoritie...

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Recent Posts in "tax haven"

Finance Minister’s Address at EEC – 2011

The following achievements are noteworthy: a) Huge network of amended DTAA (81) and TIEA with tax havens (4) has been created. b) Specific requests in 333 cases (220 by Foreign Tax Division of CBDT and 113 by FIU) have been made by Indian authorities for obtaining information from foreign jurisdictions. c) Over 9900 pieces of Information ...

Read More
Posted Under: Income Tax |

Income Tax department tracking your visit to tax havens

Desperate to curb the flow of blackmoney into the country's economy, the Income Tax department has now begun to track all fliers and visitors who travel to tax havens like Switzerland, Virgin Islands and Bahamas for personal or business purposes secretly. The department has focussed its intelligence and investigation scanner on all such t...

Read More
Posted Under: Income Tax | ,

Income tax department to deploy its officials in tax havens to check evasion

The income tax department will soon post 10 of its officers in tax haven nations to collect information about alleged tax evasion by Indians from these countries, an official in the finance ministry said. Concerns have been raised in the recent past over suspicion of round tripping or routing of Indians' illicit money back into the countr...

Read More
Posted Under: Income Tax |

Switzerland to share tax information with India- official

Dismissing the perception that Switzerland is a tax haven, a senior Swiss government official today expressed hope that the revised tax avoidance treaty with India will be ratified during the year, following which Swiss authorities would provide administrative assistance to India to deal with cases of tax evasion....

Read More
Posted Under: Income Tax |

Income Tax offices soon in several foreign countries, tax havens

The government may soon be able to obtain classified financial data from tax-haven countries and some foreign shores as it plans to set up new overseas Income Tax offices in countries like the US, the UK and Cyprus to liaise with local tax authoritie...

Read More
Posted Under: Income Tax |

Ireo under I-T probe for FDI norms violation

The Income Tax department is probing the source of investments in the real estate firm Ireo for alleged violations of FDI norms and evasion of taxes in bringing a whopping Rs8,000 cr through tax havens.The Income Tax department is probing the country...

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Posted Under: Income Tax |

FIPB approval proves Nexus of Hutch-Vodafone Deal with India

The Income-Tax department on Tuesday told the division bench of the Bombay High Court, hearing the Vodafone tax case, that approval from the Foreign Investment Promotion Board (FIPB) was critical to the $11-billion acquisition of Indian company Hutch Essar by Vodafone. FIPB is a nodal government agency that monitors foreign direct investm...

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Posted Under: Income Tax |

Government proceeding against 50 tax evaders having black money in LGT Bank

The government has served notices on 50 people for stashing black money abroad and evading taxes. Sources told that the government is proceeding against the 50tax evaders on the basis of documents received from Germany in April last year. ...

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Posted Under: Income Tax |

Tax havens hit exchequer, harm national security: India

"The opaque system of exchange of information in these tax havens and their non-compliant behaviour are matter of concern not only for revenue base but also linked to financing of activities which are detrimental to the national security interests," Finance Minister Pranab Mukherjee said at a CBDT seminar on transfer pricing in New Delhi ...

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Posted Under: Income Tax |

Mauritius Vice Prime Minister claimed his country is not a tax haven

Dismissing the notion that Mauritius is a tax haven, the island nation's Vice Prime Minister Ramakrishna Sithanen on Tuesday said he has not received any complaints from India about routing investments via his country to evade taxes. However, Sithanen, who is also the finance and economic development minister, promised to cooperate with I...

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Posted Under: Income Tax |
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