The leaked Panama Papers have triggered a global debate on the problem of tax evasion, black money and money laundering — evils with which almost all countries grapple.
The leaked Panama Papers have triggered a global debate on the problem of tax evasion, black money and money laundering — evils with which almost all countries grapple. Many Indians named in the Panama Papers also carried out legal transactions through the liberalised remittance scheme (LRS) of the Reserve Bank of India. As the Indian government inquires into the cases of tax evasion and sham companies floated in Panama and other tax havens with the help of the law firm Mossack Fonseca, the RBI is advised to put the LRS on hold.
M.G. Awatramani
New Delhi
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