The paper points to the huge volumes of investments being routed through Mauritius and Singapore, which accounted for $54 billion (42 percent of total) and $12 billion (9.17 percent) of cumulative inflows between 2000-01 and 2010-11. “Mauritius and Singapore, with their small economies, cannot be the sources of such huge investments and it is apparent that the investments are routed through these jurisdictions for avoidance of taxes and/or for concealing the identities from the revenue authorities of the ultimate investors, many of whom could actually be Indian residents, who have invested in their own companies, though a process known as round tripping.” Full story
Related:
FDI routed through Mauritius, Singapore to avoid taxes: Govt - Deccan Herald
FDI routed through Mauritius, Singapore to avoid taxes: Government - The Economic Times
FDI routed through Mauritius, Singapore to avoid taxes: Govt - Hindustan Times
White paper on black money in Parliament 'Like a bikini' - PR-Inside.com
