Union Cabinet to set up an unified authority for regulating all financial services in IFSC

The Union Cabinet has recently approved establishment of a unified authority for regulating all financial services in International Financial Services Centres (IFSCs) in India through IFSCs Authority Bill of 2019. The establishment of a unified financial regulator for IFSCs will result in providing world-class regulatory environment to market participants from an ease of doing business ..

Topics: Corporate tax avoidance • Economy • Economy of the Republic of Ireland • Financial centre • Financial regulation • Financial Regulator • International business • International Financial Services Centre • Money • Offshore finance • Securities and Exchange Board of India • Tax avoidance

Financial Secrecy Index 2018

The Financial Secrecy Index ranks jurisdictions according to their secrecy and the scale of their offshore financial activities. A politically neutral ranking, it is a tool for understanding global financial secrecy, tax havens or secrecy jurisdictions, and illicit financial flows or capital flight. The index was unveiled by the Tax Justice Network (TJN). The index is based on twenty ..

Topics: Bank secrecy • Corporate tax avoidance • Economy • Financial Secrecy Index • Global issues • International taxation • Offshore finance • Tax • Tax avoidance • Tax haven • Tax Justice Network

Washington DC headquarters of International Consortium of Investigative Journalists (ICIJ)

Recently, the International Consortium of Investigative Journalists (ICIJ) has released a global investigation ‘The Paradise Papers’ that reveals the offshore interests and activities of some of the world’s most powerful people and companies, including information about at least 31,000 persons or parties. India ranked 19th out of the 180 countries represented in the data in ..

Topics: Data journalism • Economy • International Consortium of Investigative Journalists • Investigative journalism • News leaks • Offshore finance • Offshore financial centre • Paradise Papers • Tax • Tax avoidance • Tax Evasion • Tax haven

London tops 2017 Global Financial Centres Index (GFCI)

London has retained its position as the world’s top financial centre in the 2017 Global Financial Centres Index (GFCI). The index is compiled and published by Z/Yen Group, which ranked 92 financial centres globally on factors such as infrastructure and access to high-quality staff. New York has acquired 2nd position followed by Hongkong, Singapore, Tokyo, ..

Topics: Economist Intelligence Unit • Economy • Financial centre • Global Financial Centres Index • International Financial Services Centre • Money • Offshore finance • Residual-current device • Z/Yen

India Bahrain ink accord to prevent tax evasion

India inked an agreement with Bahrain to tackle issues related to tax evasion and avoidance. The Agreement for Exchange of Information with respect to taxes usurps worth viewing Indian government’s attempts to chase black money.

Month: Current Affairs - June, 2012

Topics: Economy • International taxation • Offshore finance • Tax • Tax avoidance • Taxation in the United States