08-Dec-2011

"Black money trail: Indian companies still parking funds in tax havens"


The top 10 investment destinations for Indian companies in the last three years are all tax havens, if the US and UK which figure at number 4 and number 8, respectively, are discounted.
The statistic, released by the finance ministry, reinforces the belief that the government has failed in curbing the flow of black money out of the country.  Around 40% of the total investments in these three years have been in real estate, insurance and financial instruments, where it is very difficult to establish purchase value of such assets.
Good for the stock market I bet.

No comments:

Post a Comment