Tax Evaders’ Par­adise

India Today - - UPFRONT -

On Novem­ber 6, around 48 hours from the first an­niver­sary of de­mon­eti­sa­tion, a Ger­man news­pa­per and an in­ter­na­tional con­sor­tium of jour­nal­ists pub­lished fresh ev­i­dence of the ways in which cor­po­ra­tions and even rich in­di­vid­u­als em­ploy off­shore firms to evade tax obli­ga­tions. There is, ap­par­ently, noth­ing in­her­ently il­le­gal about park­ing money in tax havens but the reg­u­la­tions are com­pli­cated and it ap­pears many of these com­pa­nies and in­di­vid­u­als are break­ing laws. There is also the moral ques­tion of whether ex­ceed­ingly rich peo­ple and hugely prof­itable cor­po­ra­tions should be al­lowed to get away with avoid­ing tax.

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