Tag: tax evasion
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FATCA: Yet another weapon in India’s war against Tax Evasions and Black Money
By Shruti Sharma, Campus Law Centre, Delhi University. The Foreign Accounts Tax Compliance Act, better known as FATCA, is an Act which was enacted in the year 2010 by the United States Congress; it can also be called as American Global Tax law. FATCA basically requires Foreign Financial Institutions (FFIs) to report to the Internal Revenue System…
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The Skeleton in HSBC’s Closet
By Darshi Mehta, Government Law College, Mumbai. Black money has been the centre of every anti-corruption movement in the world and it comes as no surprise that it is the main facet of the world’s biggest ever banking system breach. Switzerland is known for its world class banking system. In fact, banks represent 59.4% of the…