Printer Friendly

Bringing back assets.

Byline: Saman Malik - Rawalpindi

INDIA says that its citizens have Rs60 billion assets stashed abroad. Our government also is determined to get back assets worth Rs11 billion hidden in foreign safe havens.

India was able to get full names of 50 offenders and several others with name initials that held bank accounts in Switzerland.

India's experience tells that offenders do not cough up money unless they are sure of concrete incriminatory evidence. India's legislature, executive and judiciary acted in unison to chase the loot-scoot.

To India's advantage, it has a new global framework of automatic information exchange to forestall cross-border money flows and tax evasion.

It remains to be seen that our legislature and enforcement officials act as assiduously as the Indians did to check flight of money.

COPYRIGHT 2019 Knowledge Bylanes
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2019 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Dawn (Karachi, Pakistan)
Geographic Code:9INDI
Date:Jun 26, 2019
Words:170
Previous Article:Education emergency.
Next Article:Faith in judiciary.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters