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
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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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
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
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 | Indian tax system, black money and tax havens-PR Srinivasan    </title>
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Drug smugglers and third-world dictators laundering ill-gotten wealth through secretive banking systems in tax havens is an anachronistic image from crime novels. Leveraging US' remarkable success in compelling tax havens to block terrorist financing, the G20/OECD have successfully persuaded tax..."/>
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Drug smugglers and third-world dictators laundering ill-gotten wealth through secretive banking systems in tax havens is an anachronistic image from crime novels. Leveraging US' remarkable success in compelling tax havens to block terrorist financing, the G20/OECD have successfully persuaded tax..." />
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                            <div style="text-align: justify"><br /></div><div style="text-align: justify">Drug smugglers and third-world dictators laundering ill-gotten wealth through secretive banking systems in tax havens is an anachronistic image from crime novels. Leveraging US' remarkable success in compelling tax havens to block terrorist financing, the G20/OECD have successfully persuaded tax havens to improve tax transparency and participate in an international regime of information exchange.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">All tax havens have committed to OECD standards for tax transparency and are executing Tax Information Exchange Agreements (TIEAs) wherever needed. Stringent know-your-customer (KYC) regulations and TIEAs are making it difficult, albeit slowly, for round-tripping black money through tax havens. However, tax havens continueto suffer an 'image problem' due to a Swiss tradition that has gone with the wind, i.e., not accepting tax evasion as grounds to lift the veil of banking secrecy.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Today, capital is globally mobile seeking to optimise risk-adjusted returns from international investments! Investors are willing to take higher risk by investing in emergingmarkets and seeking to reduce 'capital gains taxes' (CGT) to optimise risk-adjusted returns. Three large investor categories, controlling significant part of global capital, use tax havens to optimise risk-adjusted returns from emerging markets:&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The largest demand comes from tax-exempt investors (TEIs) such as pensions funds and university endowments domiciled in OECD countries. Initially, TEIs chose international investments only in other OECD countries, where the OECD model of 'residency-based taxation' exempts non-residents from taxation. In recent years, TEIs have sought tax havens to access emerging markets that follow the UN model of 'source-based taxation', which requires non-residents to pay taxes at source.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">For example, being a tax-exempt US resident, a pension fund will not be subject to source-country taxes on its OECD investments or home-country taxes in the US. But source-country taxes would make risk-adjusted returns low for the same fund, unless it channelises its emerging market investments through funds domiciled in tax havens (FTH).&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Demand also comes from residents in countries that don't tax capital gains and/or that don't tax global income. For example, financial investors from Hong Kong (no CGT) and US (15% CGT) would find India (22% CGT onunlisted investments), a competitive destination only through FTH.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Another source of demand arises from residents in jurisdictions that limit overseas tax credits to what is paid directly and not through an intermediate vehicle. For example, Indian investors will seek to invest in an international fund only if it has a tax pass-through status and/or through FTH.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Our country has periodically gone through convulsions about 'black money' and 'phoren investors' coming through tax havens. Unfortunately, public debate on this subject has been driven solely by the tax havens' image problem instead of the need to be competitive to access capital from one or more of the investor categories listed above. Also, no distinction has been made between strategic investors, who may invest directly, and financial investors, who will only come through FTH.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Public debate must focus on the OECD model versus the UN model of taxation. The FM, in a speech at Ficci on March 24, indicated that following our induction as the 34th member of the OECD Financial Action Task Force, India intends to adopt the OECD model. Implementing this model will be a dramatic step in making India a competitive investment destination. The OECD model will also transform Mumbai into a financial powerhouse and will enable the growth of a globally-competitive Indian fund management industry.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">But Budget 2012 is taking India in the opposite direction with amendments that stretch the limits of 'source-based taxation'. It also proposes to rush through the implementation of Gaar, without adequate safeguards, which could significantly impact India's attractiveness as an investment destination.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">With the rupee near its all-time low, foreign reserves at a15-year low and investors struggling to make positive returns, this is not the time to be messing with capital flows. Gaar, as proposed in the Budget, is a poor choice for improving tax collections from foreign 'financial' investors, as all it may succeed in doing would be driving them out. Decline in trading volumes since April 1 are a stark reminder that foreign financial investors may stay away.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Implementation of Gaar must await the new DTC as originally planned and should be with the safeguards recommended by the Parliamentary Standing Committee. Meanwhile, we need a public debate on keeping India's status as a competitive investment destination: either by preserving the tax-haven route (albeit with restrictions) or by adopting the OECD model.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>(The author is a private equity professional)</em></div>                                                           
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    <br><a href="http://economictimes.indiatimes.com/opinion/guest-writer/indian-tax-system-black-money-and-tax-havens/articleshow/12845364.cms" class="re" target="_blank">The Economic Times, 24 April, 2012, http://economictimes.indiatimes.com/opinion/guest-writer/indian-tax-system-black-money-and-tax-havens/articleshow/12845364.cms</a><div class="clear"></div>
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Drug smugglers and third-world dictators laundering ill-gotten wealth through secretive banking systems in tax havens is an anachronistic image from crime novels. Leveraging US' remarkable success in compelling tax havens to block terrorist financing, the G20/OECD have successfully persuaded tax..."/>
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Drug smugglers and third-world dictators laundering ill-gotten wealth through secretive banking systems in tax havens is an anachronistic image from crime novels. Leveraging US' remarkable success in compelling tax havens to block terrorist financing, the G20/OECD have successfully persuaded tax..." />
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    <h1 class="cat-box-title">Indian tax system, black money and tax havens-PR Srinivasan</h1>
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		 Published on</span><span class="text-date"> Apr 24, 2012</span>
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                            <div style="text-align: justify"><br /></div><div style="text-align: justify">Drug smugglers and third-world dictators laundering ill-gotten wealth through secretive banking systems in tax havens is an anachronistic image from crime novels. Leveraging US' remarkable success in compelling tax havens to block terrorist financing, the G20/OECD have successfully persuaded tax havens to improve tax transparency and participate in an international regime of information exchange.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">All tax havens have committed to OECD standards for tax transparency and are executing Tax Information Exchange Agreements (TIEAs) wherever needed. Stringent know-your-customer (KYC) regulations and TIEAs are making it difficult, albeit slowly, for round-tripping black money through tax havens. However, tax havens continueto suffer an 'image problem' due to a Swiss tradition that has gone with the wind, i.e., not accepting tax evasion as grounds to lift the veil of banking secrecy.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Today, capital is globally mobile seeking to optimise risk-adjusted returns from international investments! Investors are willing to take higher risk by investing in emergingmarkets and seeking to reduce 'capital gains taxes' (CGT) to optimise risk-adjusted returns. Three large investor categories, controlling significant part of global capital, use tax havens to optimise risk-adjusted returns from emerging markets:&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The largest demand comes from tax-exempt investors (TEIs) such as pensions funds and university endowments domiciled in OECD countries. Initially, TEIs chose international investments only in other OECD countries, where the OECD model of 'residency-based taxation' exempts non-residents from taxation. In recent years, TEIs have sought tax havens to access emerging markets that follow the UN model of 'source-based taxation', which requires non-residents to pay taxes at source.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">For example, being a tax-exempt US resident, a pension fund will not be subject to source-country taxes on its OECD investments or home-country taxes in the US. But source-country taxes would make risk-adjusted returns low for the same fund, unless it channelises its emerging market investments through funds domiciled in tax havens (FTH).&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Demand also comes from residents in countries that don't tax capital gains and/or that don't tax global income. For example, financial investors from Hong Kong (no CGT) and US (15% CGT) would find India (22% CGT onunlisted investments), a competitive destination only through FTH.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Another source of demand arises from residents in jurisdictions that limit overseas tax credits to what is paid directly and not through an intermediate vehicle. For example, Indian investors will seek to invest in an international fund only if it has a tax pass-through status and/or through FTH.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Our country has periodically gone through convulsions about 'black money' and 'phoren investors' coming through tax havens. Unfortunately, public debate on this subject has been driven solely by the tax havens' image problem instead of the need to be competitive to access capital from one or more of the investor categories listed above. Also, no distinction has been made between strategic investors, who may invest directly, and financial investors, who will only come through FTH.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Public debate must focus on the OECD model versus the UN model of taxation. The FM, in a speech at Ficci on March 24, indicated that following our induction as the 34th member of the OECD Financial Action Task Force, India intends to adopt the OECD model. Implementing this model will be a dramatic step in making India a competitive investment destination. The OECD model will also transform Mumbai into a financial powerhouse and will enable the growth of a globally-competitive Indian fund management industry.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">But Budget 2012 is taking India in the opposite direction with amendments that stretch the limits of 'source-based taxation'. It also proposes to rush through the implementation of Gaar, without adequate safeguards, which could significantly impact India's attractiveness as an investment destination.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">With the rupee near its all-time low, foreign reserves at a15-year low and investors struggling to make positive returns, this is not the time to be messing with capital flows. Gaar, as proposed in the Budget, is a poor choice for improving tax collections from foreign 'financial' investors, as all it may succeed in doing would be driving them out. Decline in trading volumes since April 1 are a stark reminder that foreign financial investors may stay away.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Implementation of Gaar must await the new DTC as originally planned and should be with the safeguards recommended by the Parliamentary Standing Committee. Meanwhile, we need a public debate on keeping India's status as a competitive investment destination: either by preserving the tax-haven route (albeit with restrictions) or by adopting the OECD model.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>(The author is a private equity professional)</em></div>                                                           
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    <br><a href="http://economictimes.indiatimes.com/opinion/guest-writer/indian-tax-system-black-money-and-tax-havens/articleshow/12845364.cms" class="re" target="_blank">The Economic Times, 24 April, 2012, http://economictimes.indiatimes.com/opinion/guest-writer/indian-tax-system-black-money-and-tax-havens/articleshow/12845364.cms</a><div class="clear"></div>
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Drug smugglers and third-world dictators laundering ill-gotten wealth through secretive banking systems in tax havens is an anachronistic image from crime novels. Leveraging US' remarkable success in compelling tax havens to block terrorist financing, the G20/OECD have successfully persuaded tax..."/>
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Drug smugglers and third-world dictators laundering ill-gotten wealth through secretive banking systems in tax havens is an anachronistic image from crime novels. Leveraging US' remarkable success in compelling tax havens to block terrorist financing, the G20/OECD have successfully persuaded tax..." />
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    <h1 class="cat-box-title">Indian tax system, black money and tax havens-PR Srinivasan</h1>
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                            <div style="text-align: justify"><br /></div><div style="text-align: justify">Drug smugglers and third-world dictators laundering ill-gotten wealth through secretive banking systems in tax havens is an anachronistic image from crime novels. Leveraging US' remarkable success in compelling tax havens to block terrorist financing, the G20/OECD have successfully persuaded tax havens to improve tax transparency and participate in an international regime of information exchange.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">All tax havens have committed to OECD standards for tax transparency and are executing Tax Information Exchange Agreements (TIEAs) wherever needed. Stringent know-your-customer (KYC) regulations and TIEAs are making it difficult, albeit slowly, for round-tripping black money through tax havens. However, tax havens continueto suffer an 'image problem' due to a Swiss tradition that has gone with the wind, i.e., not accepting tax evasion as grounds to lift the veil of banking secrecy.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Today, capital is globally mobile seeking to optimise risk-adjusted returns from international investments! Investors are willing to take higher risk by investing in emergingmarkets and seeking to reduce 'capital gains taxes' (CGT) to optimise risk-adjusted returns. Three large investor categories, controlling significant part of global capital, use tax havens to optimise risk-adjusted returns from emerging markets:&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The largest demand comes from tax-exempt investors (TEIs) such as pensions funds and university endowments domiciled in OECD countries. Initially, TEIs chose international investments only in other OECD countries, where the OECD model of 'residency-based taxation' exempts non-residents from taxation. In recent years, TEIs have sought tax havens to access emerging markets that follow the UN model of 'source-based taxation', which requires non-residents to pay taxes at source.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">For example, being a tax-exempt US resident, a pension fund will not be subject to source-country taxes on its OECD investments or home-country taxes in the US. But source-country taxes would make risk-adjusted returns low for the same fund, unless it channelises its emerging market investments through funds domiciled in tax havens (FTH).&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Demand also comes from residents in countries that don't tax capital gains and/or that don't tax global income. For example, financial investors from Hong Kong (no CGT) and US (15% CGT) would find India (22% CGT onunlisted investments), a competitive destination only through FTH.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Another source of demand arises from residents in jurisdictions that limit overseas tax credits to what is paid directly and not through an intermediate vehicle. For example, Indian investors will seek to invest in an international fund only if it has a tax pass-through status and/or through FTH.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Our country has periodically gone through convulsions about 'black money' and 'phoren investors' coming through tax havens. Unfortunately, public debate on this subject has been driven solely by the tax havens' image problem instead of the need to be competitive to access capital from one or more of the investor categories listed above. Also, no distinction has been made between strategic investors, who may invest directly, and financial investors, who will only come through FTH.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Public debate must focus on the OECD model versus the UN model of taxation. The FM, in a speech at Ficci on March 24, indicated that following our induction as the 34th member of the OECD Financial Action Task Force, India intends to adopt the OECD model. Implementing this model will be a dramatic step in making India a competitive investment destination. The OECD model will also transform Mumbai into a financial powerhouse and will enable the growth of a globally-competitive Indian fund management industry.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">But Budget 2012 is taking India in the opposite direction with amendments that stretch the limits of 'source-based taxation'. It also proposes to rush through the implementation of Gaar, without adequate safeguards, which could significantly impact India's attractiveness as an investment destination.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">With the rupee near its all-time low, foreign reserves at a15-year low and investors struggling to make positive returns, this is not the time to be messing with capital flows. Gaar, as proposed in the Budget, is a poor choice for improving tax collections from foreign 'financial' investors, as all it may succeed in doing would be driving them out. Decline in trading volumes since April 1 are a stark reminder that foreign financial investors may stay away.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Implementation of Gaar must await the new DTC as originally planned and should be with the safeguards recommended by the Parliamentary Standing Committee. Meanwhile, we need a public debate on keeping India's status as a competitive investment destination: either by preserving the tax-haven route (albeit with restrictions) or by adopting the OECD model.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>(The author is a private equity professional)</em></div>                                                           
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    <br><a href="http://economictimes.indiatimes.com/opinion/guest-writer/indian-tax-system-black-money-and-tax-havens/articleshow/12845364.cms" class="re" target="_blank">The Economic Times, 24 April, 2012, http://economictimes.indiatimes.com/opinion/guest-writer/indian-tax-system-black-money-and-tax-havens/articleshow/12845364.cms</a><div class="clear"></div>
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Indian tax system, black money and tax havens-PR Srinivasan

Published on Apr 24, 2012   Modified on Apr 24, 2012

Drug smugglers and third-world dictators laundering ill-gotten wealth through secretive banking systems in tax havens is an anachronistic image from crime novels. Leveraging US' remarkable success in compelling tax havens to block terrorist financing, the G20/OECD have successfully persuaded tax havens to improve tax transparency and participate in an international regime of information exchange.  All tax havens have committed to OECD standards for tax transparency and are executing Tax Information Exchange Agreements (TIEAs) wherever needed. Stringent know-your-customer (KYC) regulations and TIEAs are making it difficult, albeit slowly, for round-tripping black money through tax havens. However, tax havens continueto suffer an 'image problem' due to a Swiss tradition that has gone with the wind, i.e., not accepting tax evasion as grounds to lift the veil of banking secrecy.  Today, capital is globally mobile seeking to optimise risk-adjusted returns from international investments! Investors are willing to take higher risk by investing in emergingmarkets and seeking to reduce 'capital gains taxes' (CGT) to optimise risk-adjusted returns. Three large investor categories, controlling significant part of global capital, use tax havens to optimise risk-adjusted returns from emerging markets:  The largest demand comes from tax-exempt investors (TEIs) such as pensions funds and university endowments domiciled in OECD countries. Initially, TEIs chose international investments only in other OECD countries, where the OECD model of 'residency-based taxation' exempts non-residents from taxation. In recent years, TEIs have sought tax havens to access emerging markets that follow the UN model of 'source-based taxation', which requires non-residents to pay taxes at source.  For example, being a tax-exempt US resident, a pension fund will not be subject to source-country taxes on its OECD investments or home-country taxes in the US. But source-country taxes would make risk-adjusted returns low for the same fund, unless it channelises its emerging market investments through funds domiciled in tax havens (FTH).  Demand also comes from residents in countries that don't tax capital gains and/or that don't tax global income. For example, financial investors from Hong Kong (no CGT) and US (15% CGT) would find India (22% CGT onunlisted investments), a competitive destination only through FTH.  Another source of demand arises from residents in jurisdictions that limit overseas tax credits to what is paid directly and not through an intermediate vehicle. For example, Indian investors will seek to invest in an international fund only if it has a tax pass-through status and/or through FTH.  Our country has periodically gone through convulsions about 'black money' and 'phoren investors' coming through tax havens. Unfortunately, public debate on this subject has been driven solely by the tax havens' image problem instead of the need to be competitive to access capital from one or more of the investor categories listed above. Also, no distinction has been made between strategic investors, who may invest directly, and financial investors, who will only come through FTH.  Public debate must focus on the OECD model versus the UN model of taxation. The FM, in a speech at Ficci on March 24, indicated that following our induction as the 34th member of the OECD Financial Action Task Force, India intends to adopt the OECD model. Implementing this model will be a dramatic step in making India a competitive investment destination. The OECD model will also transform Mumbai into a financial powerhouse and will enable the growth of a globally-competitive Indian fund management industry.  But Budget 2012 is taking India in the opposite direction with amendments that stretch the limits of 'source-based taxation'. It also proposes to rush through the implementation of Gaar, without adequate safeguards, which could significantly impact India's attractiveness as an investment destination.  With the rupee near its all-time low, foreign reserves at a15-year low and investors struggling to make positive returns, this is not the time to be messing with capital flows. Gaar, as proposed in the Budget, is a poor choice for improving tax collections from foreign 'financial' investors, as all it may succeed in doing would be driving them out. Decline in trading volumes since April 1 are a stark reminder that foreign financial investors may stay away.  Implementation of Gaar must await the new DTC as originally planned and should be with the safeguards recommended by the Parliamentary Standing Committee. Meanwhile, we need a public debate on keeping India's status as a competitive investment destination: either by preserving the tax-haven route (albeit with restrictions) or by adopting the OECD model.  (The author is a private equity professional)

The Economic Times, 24 April, 2012, http://economictimes.indiatimes.com/opinion/guest-writer/indian-tax-system-black-money-and-tax-havens/articleshow/12845364.cms

Tagged with: black money

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