Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | IMF&#039;s &#039;Phantom FDI&#039; destinations and the India connection -Sai Manish    </title>
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IMF study says investments in empty corporate shells in these nations by companies' hints at tax evasion

New Delhi: In a recently released paper, the International Monetary Fund (IMF) has drawn the world&rsquo;s attention to the rising menace of &lsquo;Phantom..."/>
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IMF study says investments in empty corporate shells in these nations by companies' hints at tax evasion

New Delhi: In a recently released paper, the International Monetary Fund (IMF) has drawn the world&rsquo;s attention to the rising menace of &lsquo;Phantom..." />
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                            <div align="justify">-Business Standard<br /><br /><em>IMF study says investments in empty corporate shells in these nations by companies' hints at tax evasion<br /><br />New Delhi: </em>In a recently released paper, the International Monetary Fund (IMF) has drawn the world&rsquo;s attention to the rising menace of &lsquo;Phantom foreign direct investment (FDI)&rsquo;, defined as investment flows that pass through empty corporate shells that have no real business activity, with the intention to avoid paying taxes in their host countries. IMF&rsquo;s paper states that just two tax havens &ndash; Luxembourg and the Netherlands &ndash; host more than half of the world&rsquo;s $15 trillion phantom FDI. Global FDI is estimated to be around $40 trillion in 2017.<br /><br />The paper states, &ldquo;Interestingly, a few well-known tax havens host the vast majority of the world&rsquo;s phantom FDI. Luxembourg and the Netherlands host nearly half. And when you add Hong Kong SAR, the British Virgin Islands, Bermuda, Singapore, the Cayman Islands, Switzerland, Ireland, and Mauritius to the list, these 10 economies host more than 85 per cent of all phantom investments.&rdquo;<br /><br />India, meanwhile, is a major FDI recipient from these phantom destinations. In the first quarter of 2019-20, the country received $11 billion from three phantom destinations &ndash; Singapore, the Netherlands and Mauritius (See graphic). FDI from these nations accounted for 69 per cent of all inflows into the country. Singapore was the biggest conduit, with almost $5 billion, followed closely by Mauritius ($4.7 billion) in FDI flowing from these nations to India. In 2018-19, Singapore and Mauritius channelled $16 billion and $8 billion into India, while the Netherlands contributed to another $4 billion.<br /><br />That&rsquo;s almost two-thirds of India&rsquo;s $44 billion FDI received during that year.<br /><br />Please <a href="https://www.business-standard.com/article/economy-policy/imf-s-phantom-fdi-destinations-and-the-india-connection-119091100797_1.html?fbclid=IwAR2NFqp3Jizkta9F40sHEH5yWKD030hEhJPsEgDoFKAiQVwZwu8716hdZz0" title="https://www.business-standard.com/article/economy-policy/imf-s-phantom-fdi-destinations-and-the-india-connection-119091100797_1.html?fbclid=IwAR2NFqp3Jizkta9F40sHEH5yWKD030hEhJPsEgDoFKAiQVwZwu8716hdZz0">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://www.business-standard.com/article/economy-policy/imf-s-phantom-fdi-destinations-and-the-india-connection-119091100797_1.html?fbclid=IwAR2NFqp3Jizkta9F40s" class="re" target="_blank">Business Standard, 11 September, 2019, https://www.business-standard.com/article/economy-policy/imf-s-phantom-fdi-destinations-and-the-india-connection-119091100797_1.html?fbclid=IwAR2NFqp3Jizkta9F40s</a><div class="clear"></div>
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IMF study says investments in empty corporate shells in these nations by companies' hints at tax evasion

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    <h1 class="cat-box-title">IMF&#039;s &#039;Phantom FDI&#039; destinations and the India connection -Sai Manish</h1>
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                            <div align="justify">-Business Standard<br /><br /><em>IMF study says investments in empty corporate shells in these nations by companies' hints at tax evasion<br /><br />New Delhi: </em>In a recently released paper, the International Monetary Fund (IMF) has drawn the world&rsquo;s attention to the rising menace of &lsquo;Phantom foreign direct investment (FDI)&rsquo;, defined as investment flows that pass through empty corporate shells that have no real business activity, with the intention to avoid paying taxes in their host countries. IMF&rsquo;s paper states that just two tax havens &ndash; Luxembourg and the Netherlands &ndash; host more than half of the world&rsquo;s $15 trillion phantom FDI. Global FDI is estimated to be around $40 trillion in 2017.<br /><br />The paper states, &ldquo;Interestingly, a few well-known tax havens host the vast majority of the world&rsquo;s phantom FDI. Luxembourg and the Netherlands host nearly half. And when you add Hong Kong SAR, the British Virgin Islands, Bermuda, Singapore, the Cayman Islands, Switzerland, Ireland, and Mauritius to the list, these 10 economies host more than 85 per cent of all phantom investments.&rdquo;<br /><br />India, meanwhile, is a major FDI recipient from these phantom destinations. In the first quarter of 2019-20, the country received $11 billion from three phantom destinations &ndash; Singapore, the Netherlands and Mauritius (See graphic). FDI from these nations accounted for 69 per cent of all inflows into the country. Singapore was the biggest conduit, with almost $5 billion, followed closely by Mauritius ($4.7 billion) in FDI flowing from these nations to India. In 2018-19, Singapore and Mauritius channelled $16 billion and $8 billion into India, while the Netherlands contributed to another $4 billion.<br /><br />That&rsquo;s almost two-thirds of India&rsquo;s $44 billion FDI received during that year.<br /><br />Please <a href="https://www.business-standard.com/article/economy-policy/imf-s-phantom-fdi-destinations-and-the-india-connection-119091100797_1.html?fbclid=IwAR2NFqp3Jizkta9F40sHEH5yWKD030hEhJPsEgDoFKAiQVwZwu8716hdZz0" title="https://www.business-standard.com/article/economy-policy/imf-s-phantom-fdi-destinations-and-the-india-connection-119091100797_1.html?fbclid=IwAR2NFqp3Jizkta9F40sHEH5yWKD030hEhJPsEgDoFKAiQVwZwu8716hdZz0">click here</a> to read more. <br /></div>                                                           
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IMF study says investments in empty corporate shells in these nations by companies' hints at tax evasion

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    <h1 class="cat-box-title">IMF&#039;s &#039;Phantom FDI&#039; destinations and the India connection -Sai Manish</h1>
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                            <div align="justify">-Business Standard<br /><br /><em>IMF study says investments in empty corporate shells in these nations by companies' hints at tax evasion<br /><br />New Delhi: </em>In a recently released paper, the International Monetary Fund (IMF) has drawn the world&rsquo;s attention to the rising menace of &lsquo;Phantom foreign direct investment (FDI)&rsquo;, defined as investment flows that pass through empty corporate shells that have no real business activity, with the intention to avoid paying taxes in their host countries. IMF&rsquo;s paper states that just two tax havens &ndash; Luxembourg and the Netherlands &ndash; host more than half of the world&rsquo;s $15 trillion phantom FDI. Global FDI is estimated to be around $40 trillion in 2017.<br /><br />The paper states, &ldquo;Interestingly, a few well-known tax havens host the vast majority of the world&rsquo;s phantom FDI. Luxembourg and the Netherlands host nearly half. And when you add Hong Kong SAR, the British Virgin Islands, Bermuda, Singapore, the Cayman Islands, Switzerland, Ireland, and Mauritius to the list, these 10 economies host more than 85 per cent of all phantom investments.&rdquo;<br /><br />India, meanwhile, is a major FDI recipient from these phantom destinations. In the first quarter of 2019-20, the country received $11 billion from three phantom destinations &ndash; Singapore, the Netherlands and Mauritius (See graphic). FDI from these nations accounted for 69 per cent of all inflows into the country. Singapore was the biggest conduit, with almost $5 billion, followed closely by Mauritius ($4.7 billion) in FDI flowing from these nations to India. In 2018-19, Singapore and Mauritius channelled $16 billion and $8 billion into India, while the Netherlands contributed to another $4 billion.<br /><br />That&rsquo;s almost two-thirds of India&rsquo;s $44 billion FDI received during that year.<br /><br />Please <a href="https://www.business-standard.com/article/economy-policy/imf-s-phantom-fdi-destinations-and-the-india-connection-119091100797_1.html?fbclid=IwAR2NFqp3Jizkta9F40sHEH5yWKD030hEhJPsEgDoFKAiQVwZwu8716hdZz0" title="https://www.business-standard.com/article/economy-policy/imf-s-phantom-fdi-destinations-and-the-india-connection-119091100797_1.html?fbclid=IwAR2NFqp3Jizkta9F40sHEH5yWKD030hEhJPsEgDoFKAiQVwZwu8716hdZz0">click here</a> to read more. <br /></div>                                                           
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IMF's 'Phantom FDI' destinations and the India connection -Sai Manish

Published on Sep 12, 2019   Modified on Sep 12, 2019

-Business Standard IMF study says investments in empty corporate shells in these nations by companies' hints at tax evasion New Delhi: In a recently released paper, the International Monetary Fund (IMF) has drawn the world’s attention to the rising menace of ‘Phantom foreign direct investment (FDI)’, defined as investment flows that pass through empty corporate shells that have no real business activity, with the intention to avoid paying taxes in their host countries. IMF’s paper states that just two tax havens – Luxembourg and the Netherlands – host more than half of the world’s $15 trillion phantom FDI. Global FDI is estimated to be around $40 trillion in 2017. The paper states, “Interestingly, a few well-known tax havens host the vast majority of the world’s phantom FDI. Luxembourg and the Netherlands host nearly half. And when you add Hong Kong SAR, the British Virgin Islands, Bermuda, Singapore, the Cayman Islands, Switzerland, Ireland, and Mauritius to the list, these 10 economies host more than 85 per cent of all phantom investments.” India, meanwhile, is a major FDI recipient from these phantom destinations. In the first quarter of 2019-20, the country received $11 billion from three phantom destinations – Singapore, the Netherlands and Mauritius (See graphic). FDI from these nations accounted for 69 per cent of all inflows into the country. Singapore was the biggest conduit, with almost $5 billion, followed closely by Mauritius ($4.7 billion) in FDI flowing from these nations to India. In 2018-19, Singapore and Mauritius channelled $16 billion and $8 billion into India, while the Netherlands contributed to another $4 billion. That’s almost two-thirds of India’s $44 billion FDI received during that year. Please click here to read more.

Business Standard, 11 September, 2019, https://www.business-standard.com/article/economy-policy/imf-s-phantom-fdi-destinations-and-the-india-connection-119091100797_1.html?fbclid=IwAR2NFqp3Jizkta9F40s

Tagged with: Corporate Tax Foreign Direct Investment FDI black money

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