India approaches tax havens for financial details of 500 entities
17 Jun 2013 10:38 PM GMT
India has approached over half a dozen foreign jurisdictions, including Singapore and some tax havens, for banking and other financial details of more than 500 individuals and entities that might have 'secret offshore accounts' at those places.
The 'names and listed addresses' of as many as 505 India- linked entities, including businessmen and companies from the country, have been made public after a global expose on secret offshore accounts by US-based rights group, the International Consortium of Investigative Journalists (ICIJ).
The addresses of Indian entities and individuals, according to the ICIJ expose, have addresses of upmarket localities of account holders from Delhi, Mumbai, Bangalore, Kolkata, Chennai, Hyderabad, Pune, Ahmedabad, Baroda, Surat, Chandigarh and many other Indian cities and few other moffusil locations.
Sources here said that the Foreign Tax and Tax Research (FT&TR) division in the Finance Ministry has approached the British Virgin Islands, Cayman Islands and Singapore under the tax information exchange treaties with these jurisdiction for banking and other details of those named by ICIJ.
The 'names and listed addresses' of as many as 505 India- linked entities, including businessmen and companies from the country, have been made public after a global expose on secret offshore accounts by US-based rights group, the International Consortium of Investigative Journalists (ICIJ).
The addresses of Indian entities and individuals, according to the ICIJ expose, have addresses of upmarket localities of account holders from Delhi, Mumbai, Bangalore, Kolkata, Chennai, Hyderabad, Pune, Ahmedabad, Baroda, Surat, Chandigarh and many other Indian cities and few other moffusil locations.
Sources here said that the Foreign Tax and Tax Research (FT&TR) division in the Finance Ministry has approached the British Virgin Islands, Cayman Islands and Singapore under the tax information exchange treaties with these jurisdiction for banking and other details of those named by ICIJ.
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