Tax Havens: Current Affairs, GK & News - 2020-2021

India-Luxembourg Virtual Summit: Key Facts

Published: November 19, 2020

On November 19, 2020, India and Luxembourg held the first stand alone summit in two decades. Key takeaways The countries appreciated the launch of four Luxembourg satellites by Indian Space Research Organization in 2019. India welcomed Luxembourg’s decision of joining International Solar Alliance. Luxembourg has agreed to extend its full support to India during its ..

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EU Adds 10 Countries to Tax Blacklist

Published: March 13, 2019

The European Union has expanded its tax haven blacklist by including 10 countries. The list now has 15 countries. The list was first drawn up by EU in 2017 in the wake of several scandals, including the Panama Papers and LuxLeaks, that pushed the EU into doing more to fight tax evasion by multinationals and ..

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India placed 88th in money hoarded in Swiss banks

Published: July 4, 2017

As per analysis of the latest figures compiled by the Zurich based SNB (Swiss National Bank) as on 2016-end, India has slipped to the 88th place in terms of money parked by its citizens with Swiss banks. The analysis shows that the money officially held by Indians with banks in Switzerland now accounts for a ..

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Tax Avoidance, Tax Evasion and Tax Planning

Published: November 23, 2015

There are three different concepts viz. tax avoidance, tax evasion and tax planning. Tax Avoidance means an attempt to reduce tax liability through legal means, i.e. to regulate one’s financial affairs in such a way that one pays the minimum tax imposed by the law. This can be understood with a simple example. Tax Evasion and ..

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