Govt to deploy officials in tax havens to check evasion

Mumbai: The income tax department will soon post 10 of its officers in tax haven nations to collect information about alleged tax evasion by Indians from these countries, an official in the finance ministry said.
Concerns have been raised in the recent past over suspicion of round tripping or routing of Indians’ illicit money back into the country through tax havens.
The Central Board of Direct Taxes (CBDT) Member Prakash Chandra said that his department has formulated some strategies to deal with tax havens and the government will soon be posting 10 officers in “important countries” to help curtail the menace.
“The officers have been shortlisted and some approvals are necessary (before they are posted),” Chandra added.