From founding fathers to Europe's most unyielding rulers, these figures have not just held office, they have established a cult of leadership and will leave legacies, mostly mixed, that few can rival.
The government will investigate every Indian name appearing in an unprecedented leak of financial records, known as the 'Pandora Papers', which alleged that many world leaders have secret offshore stores of wealth.
"Tendulkar's attorney said the cricket player's investment is legitimate and has been declared to tax authorities. Shakira's attorney said the singer declared her companies, which the attorney said do not provide tax advantages. Schiffer's representatives said the supermodel correctly pays her taxes in the UK, where she lives," it notes.
While Panama and Paradise Papers had majorly focused on foreign entities created by entities, corporates or individuals overseas, Pandora is about the new method adopted by wealthy elites by setting up multiple layered complex trust structures.
The money stashed away in tax havens is estimated at between $5.6 trillion and $32 trillion, numbers to make your eyes pop, asserts T N Ninan.
Indians having undisclosed income in the United States (US) may face proceedings under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, this financial year. Also, those named in global leaks may be searched, show-caused, and prosecuted, according to the FY23 internal action plan of the Central Board of Direct Taxes (CBDT). The CBDT has rolled out an aggressive target and timeline to investigate tax evasion matters, especially those involving undisclosed foreign assets.
The Enforcement Directorate (ED) has arrested the vice chairman and managing director of real estate group IREO, Lalit Goyal, in connection with a money laundering probe against him, officials said on Tuesday. The businessman has been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA) by the federal probe agency in Chandigarh and will be produced before a local court for seeking his remand, they said. Goyal was stopped by immigration authorities last Thursday at the Indira Gandhi International (IGI) airport in New Delhi on the basis of an ED look out circular against him.
Congress general secretary (communications) Jairam Ramesh said they will pose three questions a day to Prime Minister Narendra Modi over the issue.
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