India tries to tame tax havens
July 1st, 2009
United Press International
Kolkata, India — Taking advantage of the Paris-based Organization for Economic Cooperation and Development’s sanction threats against tax havens, the Indian government is taking a hard look at the country’s plethora of Double Taxation Avoidance Agreements. But laying a hand on the enormous amount of the country’s illegal or black money stashed abroad may be easier said than done.
Instead of wasting time chasing the stash, say experts, India should focus on curtailing the outflow of black money and adopting measures to arrest its creation within the country.
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