Hirunews Logo
India+tax+evasion+amnesty+uncovers+hidden+billions+
Sunday, 02 October 2016 - 8:52
India tax evasion amnesty uncovers hidden billions
91

Shares
10,983

Views
A tax evasion amnesty in India has prompted tens of thousands of people to declare more than $9.5bn in undeclared income and assets.

Finance minister Arun Jaitley said the four-month window that ended on Friday brought in 64,275 declarations.

All were offered immunity from prosecution in return for paying tax, a surcharge and a penalty.

It is estimated that the government could raise nearly $4.5bn from the scheme.

Undeclared income or "black money" is a huge issue in India.
Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE
News Image
Hiru News Programme Segments
406 Views
39 Views
1,737 Views
39,095 Views
2,311 Views
40,398 Views
Top