Tuesday, April 02, 2013

In India, dodging taxes is part of the game...

In a country long defined by its poverty, it's easy now to find India's rich.

They're at New Delhi's Emporio mall, where herds of chauffeur-driven Jaguars and Audis disgorge shoppers heading to the Louis Vuitton and Christian Louboutin stores. They're shopping for Lamborghinis in Mumbai. They're putting elevators in their homes and showing off collections of jewel-encrusted watches in Indian luxury magazines. They're buying real estate in comfortable but unpretentious neighborhoods — neighborhoods thought of as simply upper-middle-class just a couple years ago — where apartments now regularly sell for millions of dollars.

They're just about everywhere. Unless it's income tax time. Then, suddenly, they barely exist.

 The reality is simple: "There are very few people who are paying taxes," said Sonu Iyer, a tax expert at Ernst & Young in New Delhi. And tax dodging is everywhere. "It's rampant — rampant." Full story...

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  2. The $34 billion Coalgate scandal: will India ever be able to tackle corruption?
  3. Baba Ramdev: India can win gold if Olympics gave medals for corruption...
  4. India to get info on 'black money' in Swiss banks...
  5. Pakistan hires transgenders to shame and harass tax evaders!!!
  6. Facebook to pay NO tax for 2012 and will even get tax refund of $429m...
  7. More Americans give up passports over tax...

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