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TAX EVASION SOLUTIONS
Taiwan turns shopping receipts into lottery tickets: Every receipt becomes a chance to win nearly Rs 3 cr; this 1951 idea increases tax revenue by 75%Taiwan's ingenious receipt lottery, launched in 1951, transformed tax collection by incentivizing consumers to demand official bills. This ...- India must leverage its digital verification architecture to evolve into a trust-based economyIndia faces a low-trust economy with high friction, exemplified by complex KYC norms. Finance Minister Nirmala Sitharaman highlighted this ...
- Hinduja Group arm HGS charged with Rs 2,500 cr tax evasionThe Income Tax Department has accused Hinduja Global Solutions (HGS) of tax evasion amounting to approximately ₹2,500 crore. An internal re...
- Finance Minister Nirmala Sitharaman calls for effective tax reporting regimeParticipating in the G20 Finance Ministers and Central Bank Governors meeting here on the sidelines of the annual meetings of the IMF and t...
- FM Nirmala Sitharaman calls for sharing information on non-financial AssetsFinance minister Nirmala Sitharaman on Thursday called on G20 countries to ensure that the developing nations are guarded against any "unin...
- CBIC looks for public feedback to curb GST evasion by etailersThe government has already sought suggestions internally on how to curb duty evasion.
- Income Tax Department freezes bank accounts of CognizantAccounts of Cognizant India-- one of the country's largest software firms-- were frozen after it failed to pay DDT of more than Rs 2500 cro...
- Commonwealth finance ministers meeting: Arun Jaitley bats for automatic exchange of information to tackle black moneyJaitley welcomed the efforts of OECD in areas of BEPS project and automatic exchange of information which have important implications for C...
- Commonwealth Finance ministers to meet on October 7 in PeruThe meeting will take place in Peruvian Capital Lima, ahead of the International Monetary Fund and World Bank annual meetings.
- Commonwealth finance ministers to focus on global tax reforms co-operationDelegates will discuss the need for developing countries to be more active in global negotiations to prevent international tax avoidance an...
- Client confidentiality will not disappear, assert Swiss banksSwiss banks today asserted that "bank-client confidentiality" will not disappear and 'automatic information exchange' is not the only solut...
- Switzerland to work with new Indian government on tax evasionAs debate on India's black money stashed in Swiss banks continues, Switzerland said it is looking forward to work with new govt of India in...
- Government continuing crackdown on wealth stashed by Indians abroadgovernment has initiated enquiries in several cases while information has been received in 67 such cases of money stashed abroad.
- Educomp falls further on alleged tax evasion reports; stock down 13%Shares of Educomp Solutions Ltd slipped lower on Thursday after the Income Tax Department conducted probe at 14 offices of Educomp across t...
- IT Department raids several offices of Educomp Solutions; stock hits 52-week lowThe sources said that the company has not fulfilled some of conditions or liabilities over tax and that is why raids are being conducted ac...
- Govt to seek views online on tough law against tax evasionThe finance ministry decided to launch a dedicated portal inviting suggestions on the issue from the public and all other stakeholders thro...
- No quickfix solution to bring back blackmoney: PMPM Manmohan Singh said there is "no instant solution" to bring back black money stashed in foreign banks.
- Black money info can't be made public: PMThe Centre's contention before the court is that it was case of tax evasion and it cannot make public the names of Indian account holders.
- Switzerland to stop undeclared funds into its banksIn the backdrop of increased international pressure on its banking secrecy practices, Switzerland today said it will prevent the flow of un...
- Offshore non-compliance hits India’s revenue baseET Exclusive: Jeffrey Owens, director of the Centre for Tax Policy and Administration at the OECD, has encouraged countries, including Indi...
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