Black Money And Tax Havens
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Black Money And Tax Havens
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Author : R Vaidyanathan
language : en
Publisher: Penguin Random House India Private Limited
Release Date : 2023-10-23
Black Money And Tax Havens written by R Vaidyanathan and has been published by Penguin Random House India Private Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-10-23 with Business & Economics categories.
Just how much black money is there in India? Estimates vary from 10 per cent to 20 per cent of our GDP. Conservatively, Rs 15 lakh crore (10 per cent of Rs 150 lakh crore, our GDP in 2016-17). As for Indian money in tax havens around the world? Around Rs 65 lakh crore. Truly astounding figures. Black money or kala dhan is a topic that has elicited much debate in recent times. This has been mostly marked by mudslinging and name-calling, and the discussions that have ensued often have no basis in fact. While most people have a hazy notion of black money, only a few understand it in its entirety. The issue of tax havens is perhaps even more misunderstood. Most people fail to see the connection between tax havens and black money. Black Money and Tax Havens is the first work that discusses both of these issues in depth and offers a 360-degree view to the reader. In this work, R. Vaidyanathan provides the reader with a brief overview of black money-its generation, its estimates and how and why it is spirited away to tax havens. He also lays bare the danger that is posed to world financial well-being on account of the lack of political will to tackle these issues. A unique and timely work, this book packs in much information in an accessible manner.
It S Raining Black
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Author : Shailendra Kumar (Journalist)
language : en
Publisher:
Release Date : 2015
It S Raining Black written by Shailendra Kumar (Journalist) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Black market categories.
The Darker Side Of Black Money
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Author : B. V. Kumar
language : en
Publisher:
Release Date : 2013
The Darker Side Of Black Money written by B. V. Kumar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Bank failures categories.
Black Money And Tax Evasion In India
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Author : M. M. Sury
language : en
Publisher:
Release Date : 2014
Black Money And Tax Evasion In India written by M. M. Sury and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Black market categories.
To meet the deadline set by the Honourable Supreme Court for the previous Government, the new Government of Prime Minister Narendra Modi constituted a Special Investigation Team (SIT), soon after assuming office on May 26, 2014. Headed by Justice M.B. Shah, a former judge of the Supreme Court, SIT was notified on May 27, 2014 to look into the issue of black money. The objective of this book is to explain various facets and dimensions of black money and tax evasion and their complex relationship with the policy and administrative regime in the country. It describes the factors which lead to the generation of black money, and records various estimates of black money and tax evasion. It also presents the measures/strategies that the Government of India has been pursuing to tackle this issue, especially recent initiatives and developments.
The Darker Side Of Black Money
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Author : B. V. Kumar
language : en
Publisher:
Release Date : 2011
The Darker Side Of Black Money written by B. V. Kumar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Bank failures categories.
When former Swiss banker Rudolf Elmer handed over information about bank accounts of over 2,000 individuals to WikiLeaks, it stirred the world. This was probably the first step towards the opening of a closet of skeletons, and skeletons they were of politicians, god men, terrorists, oil barons and kings. The details are still awaited but even then, the fact largely known but seldom acknowledged, primarily because of the high-profile names attached with it, has hit the headlines both in India and abroad. The Darker side of Black Money discusses this ugly side of dirty money and the murky hands that handle it and tells us how everyone from the banks to individuals, fathers to sons, politicians to mafia dons, god men to terrorists – all follow every possible trick to clandestinely hide their large, unaccounted cache of black money from friends and foes alike. It talks about the demand and supply of secret money and how the likes of Swiss banks carve rules that clearly mean “Come, hide it with us†. It discusses various terms such as money laundering and drug trafficking that are often used but not always understood. Besides, it explains why certain countries, termed as tax havens, are more conducive to such stashing of cash. Unfortunately, the problem doesn't end with hiding the money. In fact, it begins here. From funding terrorism to destabilizing a government, this dirty money comes in handy in everything that is murky and illegal. The book unfolds the mystery and explains the modus operandi of this money business through a detailed case study of what was probably the world's biggest banking scam – “Bank of Credit and Commerce International†. The book discusses how the rogue bank that started in 1972 expanded exponentially worldwide through fraudulent ways and generated enough connections with powers that be to ensure immunity, but finally saw its collapse in 1991.
The Curious Case Of Black Money And White Money
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Author : Varun Chandna
language : en
Publisher: Notion Press
Release Date : 2017-03-17
The Curious Case Of Black Money And White Money written by Varun Chandna and has been published by Notion Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-17 with Business & Economics categories.
You cannot understand Money Laundering unless you understand ‘How’ this GAME is actually played. Flip in and you will!! Get in to understand ‘How’ the following may be related with Money Laundering Hawala Donations and Trust Mergers and Acquisitions (M&A) Shares and Share Market Hidden Leverage Real Estate Penny Stocks and Circular Trading Futures and Options (F&O) Letters of Credit (L/C) P-Notes Convertible Financial Instruments Imports & Exports Unsecured Loans and Fixed Deposits Bitcoins Special Economic Zones Bearer Shares Shell Companies and Panama Islands Gambling Numbered Accounts Gold and Diamonds Start-ups etc.
The Hidden Wealth Of Nations
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Author : Gabriel Zucman
language : en
Publisher: University of Chicago Press
Release Date : 2015-09-22
The Hidden Wealth Of Nations written by Gabriel Zucman and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-22 with Business & Economics categories.
We are well aware of the rise of the 1% as the rapid growth of economic inequality has put the majority of the world’s wealth in the pockets of fewer and fewer. One much-discussed solution to this imbalance is to significantly increase the rate at which we tax the wealthy. But with an enormous amount of the world’s wealth hidden in tax havens—in countries like Switzerland, Luxembourg, and the Cayman Islands—this wealth cannot be fully accounted for and taxed fairly. No one, from economists to bankers to politicians, has been able to quantify exactly how much of the world’s assets are currently hidden—until now. Gabriel Zucman is the first economist to offer reliable insight into the actual extent of the world’s money held in tax havens. And it’s staggering. In The Hidden Wealth of Nations, Zucman offers an inventive and sophisticated approach to quantifying how big the problem is, how tax havens work and are organized, and how we can begin to approach a solution. His research reveals that tax havens are a quickly growing danger to the world economy. In the past five years, the amount of wealth in tax havens has increased over 25%—there has never been as much money held offshore as there is today. This hidden wealth accounts for at least $7.6 trillion, equivalent to 8% of the global financial assets of households. Fighting the notion that any attempts to vanquish tax havens are futile, since some countries will always offer more advantageous tax rates than others, as well the counter-argument that since the financial crisis tax havens have disappeared, Zucman shows how both sides are actually very wrong. In The Hidden Wealth of Nations he offers an ambitious agenda for reform, focused on ways in which countries can change the incentives of tax havens. Only by first understanding the enormity of the secret wealth can we begin to estimate the kind of actions that would force tax havens to give up their practices. Zucman’s work has quickly become the gold standard for quantifying the amount of the world’s assets held in havens. In this concise book, he lays out in approachable language how the international banking system works and the dangerous extent to which the large-scale evasion of taxes is undermining the global market as a whole. If we are to find a way to solve the problem of increasing inequality, The Hidden Wealth of Nations is essential reading.
Black Money And Economic Crimes
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Author : Dr. A.K. Saxena
language : en
Publisher: K.K. Publications
Release Date : 2021-08-03
Black Money And Economic Crimes written by Dr. A.K. Saxena and has been published by K.K. Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-03 with True Crime categories.
In the modern economic system, Black Money refers to funds earned in the black market, on which income and other taxes have not been paid. The total amount of black money deposited in foreign banks by Indians is unknown, but one estimate by an expert reveals that the black money held by Indians, in foreign banks is more than all the black money, hoarded by people in the rest of the world, combined together. While official numbers are not available, Swiss banking personnel have also said that the largest depositors of illegal foreign money in Switzerland are Indians. Black Money is an economic term, hard to define, accurately. Black Money is also sometimes used for payments to evade tax. However, this is a mild form of black money. This money in fact is obtained, illegally and is partially suppressed. A popular way for criminals to launder black money in property is to set up complex structures. In this way, they try to see that the money flows out. This book on this subject should certainly prove to be an asset for all scholars, researchers and social activists Table of Contents Preface....................................... ix Introduction............................... 1 Definition of Black Money • Birth of Black Money • Burning Topic • Use of Black Money • Controlling Black Money • Roots and Causes of Black Money • Black Money Scenario • Another Definition • Mid-form of Black Money • Art of Spending • Repentance Scheme • Black Money in Swiss Banks • The Modus Operandi • Mauritius Route • Non-sufficient Funds • Implementation Black Money in India..................... 33 An Overview • Sources of Black Money • Parallel Economy • Political and Administrative Corruption • Indian Politics and Black Money • Remedy to Corruption • Failed Policies • Current Scene • Baba Ramdev and his Individual “Satyagraha” • Industries and Black Money • Poverty, Industrial Scam and Corruption • Illicit Means Adopted • Tax Information Exchange Agreement • Economics of Corruption • Remittance Services • Cybercrime • White-collar Crimes • Terrorist Financing • Human Trafficking • Court Cases Impact of Black Money on Indian Economy 71 Effects and Aftereffects • Other Effects • Various Causes of Black Money • Effects of Black Income • Impact on Common Man • Inflation • Speculative Investments • Major Tax Havens • State of Indian Economy Indian Government’s Actions against Black Money................................ 81 Law against Black Money • Income Tax Department’s Role • Various Measures Undertaken Money Laundering........................ 95 Disguising Illegal Sources • General Aspects • Methods • Enforcement • Laws by Region • Locations • Castle Bank and Trust • FIMACO • Fraud Enforcement and Recovery Act • Legislative History • Money Laundering Control Act • Money Mule • Nugan Hand Bank • Founding • Parcel Mule Scam • Russian Mafia Unlawful Transactions................. 129 Cheque Fraud • Types of Cheque Fraud • Bad Cheque Writing • Cheque Kiting • Bad Cheque Restitution Programme • Methods • Circular Kiting • ChexSystems • Services • Overdraft • Shared Cheque Authorisation Network Black Marketing........................... 155 Background • Transportation Providers • Modern Examples Insider Trading............................ 169 Definition of Insider • Legal Insider Trading • Illegal Insider Trading • Liability for Insider Trading • Tracking Insider Trades • Common Law Menace of Corruption................... 181 Etymology • Areas of Corruption • Corrupt Activities • Bid Rigging • Bribery • Cartel • Collusion • Cronyism Corruption in India....................... 207 An Overview • The Background • Politics • Bureaucracy • Land and Property • Income Tax Department • Judiciary • Armed Forces • Medicine • Religious Institutions • Education • Protectors against Corruption • Socioeconomic Issues • Economic Issues • Violence Organized Crimes......................... 223 The Background • Theoretical Background • Critical Criminology and Sociology • Models of Organised Crime • Individual Difference • Violence The Scams.................................... 249 Lottery Scam • Charity Scams • Fraud Recovery Scams • Pet-Scams • Rental Scams • Attorney Collection Scams Controlling Financial Crimes......... 255 Various Organisations • Directorate General of Economic Enforcement • Directorate of Revenue Intelligence • Economic Intelligence Council • Various Members • Financial Crimes Enforcement Network • Hawala • Financial Transaction Centre • Guardia di Finanza • Different Roles • Anti-drug Operations • Chiasso Financial Smuggling Case • Unit Awards • Special Departments • Mobile Phone Financial Services • Market Abuse • Market Manipulation • Servicio de Vigilancia Aduanera • Department of Customs and Special Taxes • Territorial Services • Armament and Equipment • Slush Fund • the United States Secret Service • Uniformed Division • United Nations Convention against Corruption Anti-corruption movement in India. 299 Background • India against Corruption Movement • August Protests • Vote Bank against Corruption • Political Support • Jan Lokpal Bill • Use of Cyberspace • Government’s Response • Political Response to Jantar Mantar Protests • Ramlila Ground Protests • Police Action against Demonstration • Aftermath of the Protests • Civil Society Response • Suo Moto Cognisance by the Supreme Court • Protest Timeline Laws in Various Countries............. 327 International Laws • Indian Laws against Corruption • The Acts • The Amended Act • Patronage • Ecclesiastical • Price-Fixing • Criticism on Legislation Bibliography................................ 345 Index.......................................... 363
Treasure Islands
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Author : Nicholas Shaxson
language : en
Publisher: Random House
Release Date : 2011-02-18
Treasure Islands written by Nicholas Shaxson and has been published by Random House this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-02-18 with Business & Economics categories.
WITH NEW AND UPDATED MATERIAL Billionaire Warren Buffet, currently the third wealthiest man in the world, paid the lowest rate of tax among his office staff, including his receptionist. In 2006 the world's three biggest banana companies did nearly £400 million worth of business in Britain but paid just £128,000 in tax between them. In January 2009, US law enforcement fined Lloyds TSB $350 million after it admitted secretly channelling Iranian and Sudanese money into the US banking system. Tax havens are the most important single reason why poor people and poor countries stay poor. They lie at the very heart of the global economy, with over half the world trade processed through them. They have been instrumental in nearly every major economic event, in every big financial scandal, and in every financial crisis since the 1970s, including the latest global economic downturn. In Treasure Islands, Nicholas Shaxson shows how this happened, and what this means for you.
Tax Havens And Their Use By United States Taxpayers
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Author : Richard A. Gordon
language : en
Publisher:
Release Date : 1981
Tax Havens And Their Use By United States Taxpayers written by Richard A. Gordon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Government publications categories.
Overview of tax havens and the use of tax havens by US taxpayers. The study sought to determine the frequency and nature of tax haven transactions, identify specific types of tax haven transactions, obtain a description of the US and foreign legal and regulatory environment in which tax haven transactions are conducted, describe the IRS and Justice Department efforts to deal with tax haven related transactions, and to identify interagency coordination problems.