Skip to main content

India gives up names of possible tax-dodgers

Supreme Court handed list of people with Geneva bank accounts

India’s government handed the names of over 600 citizens with foreign bank accounts to the Supreme Court yesterday in a bid to stamp out tax evasion.

The government was ordered to give up the names so the court can hand them to an investigative team looking into rampant tax-dodging in the country.

Attorney General Mukul Rohatgi said the 627 people all have accounts with a Geneva branch of HSBC. A bank employee passed the information to India in 2011 but it has not yet been acted on.

An estimated £310 billion is held by Indians in tax havens overseas — many being British crown possessions including the British Virgin Islands, Jersey and the Isle of Man.

Prime Minister Narendra Modi claims to be launching a ruthless campaign to eliminate tax evasion, which outrages Indian public opinion.

But the Communist Party of India (Marxist) says the government’s approach is selective and does not target all tax-evaders.

 

OWNED BY OUR READERS

We're a reader-owned co-operative, which means you can become part of the paper too by buying shares in the People’s Press Printing Society.

Become a supporter

Fighting fund

You've Raised:£ 15,468
We need:£ 2,532
2 Days remaining
Donate today