Category: Black economy

if Indian money deposits have dipped in Swiss banks and if we assume this was all black money, where did all this money go,

On Tuesday, in a reply to Parliament, Union Finance Minister Piyush Goyal said between 2014 and 2017, there was an 80 percent decline in the total deposits by Indians in Swiss banks, adding media was misinterpreting this data before. The context for Goyal’s statement were earlier reports of […]

Money parked by Indians in Swiss banks rose over 50% to ₹7000 crore in 2017

Money parked by Indians in Swiss banks rose over 50% to Swiss Francs (CHF) 1.01 billion (₹7,000 crore) in 2017, reversing a three-year downward trend amid India’s clampdown on suspected black money stashed there. In comparison, the total funds held by all foreign clients of Swiss banks rose […]

1 out of 4 millionaires is saying ‘goodbye India’; but our billionaires sure like it here

Of the 68 billionaires in India, at least 30 reside in Mumbai, making India’s financial capital 26th on the list of 100  global cities surveyed in the Knight Frank Wealth Report 2015. While in the next 10 years only USA, China and Russia are predicted to have more billionaires […]

Where the rich stash their cash

Nick Mathiason on a new study that reveals the amazing wealth the super-rich hold in offshore tax havens – depriving governments of hundreds of billions of dollars – and the looming crackdown by the world’s tax collectors Rupert Murdoch last week floated his family’s £3.8 billion personal investment […]

How the super rich stash money abroad

‘Tax dodging through tax havens is one of the ways multinational corporations and the super-rich in India are using to evade taxes.’ The Paradise Papers released November 5, just three days ahead of the first anniversary of demonetisation, named 714 Indians who allegedly dodged paying taxes in India. While the […]

The 13 tax havens where rich Indians stash their money

Rich Indians love to park their wealth offshore, away from t .. Read more at: Credit: Business Insider April 4, 2016

Indians’ unaccounted wealth abroad estimated at $216-490 billion

New Delhi:Unaccounted wealth outside the country held by Indians was estimated in the range of $216.48 billion to $490 billion over various periods between 1980 and 2010, according to three separate studies conducted by three premier institutes — NIPFP, NCAER and NIFM. The studies conducted by the three […]