“veral countries’ ramped up drive against the black money menace has forced wealthy elites, including from India, to adopt a new method to ring fence their wealth, revealed the ‘Pandora Papers’, the latest leak of offshore files. Pandora Papers talks about those beneficial owners who have assets placed in an offshore trust–in conjunction with foreign entities- holding all sorts of investments, cash, properties, shareholdings on behalf of these owners. About 30,000 private foreign trusts had been set up across the globe in not just tax friendly jurisdictions, where the laws are comparatively lenient, but also in those jurisdictions such as US. In this episode of the Business tit-bits our Business Editor Mr Akhilesh Bhargava shares his take on the matter.
#PandoraPapers #BlackMoney #WealthTax
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