Indian Government set to crack down on wealth tax evaders
(17/8/2004)
Indian government are set to crack down on wealthy tax evaders
Some Rs.87,675 million (?1.03bn) is owed to the Indian Treasury, according to the Indian Finance Minister.
Speaking at a recent conference, the Indian Finance Minister Palianappan Chidambaram announced a crackdown on wealthy, non-salaried Indians using offshore structures to evade tax. He said that the Ministry would ask the Indian justice ministry and High Court to make sure that high-profile cases are prosecuted quickly.
According to a report in the Indian Telegraph, the Indian revenue service is planning a concerted effort at recovering owed tax. Revenue inspectors will `collect the taxes in person`, according to the report.
You may request further information on this article by completing our online Information Request Form.
|
