Indian companies are routing tens of billions of dollars through Mauritius each year in a giant tax avoidance scheme
India is changing its tax laws in a bid to introduce
greater transparency into its financial transactions with Mauritius.
The aim is to stem ‘round-tripping’ of funds by politicians,
businessmen and criminal syndicates, and assuage concerns about the
unregulated and ‘hot’ money which transits through the Mauritian
economy and into India. The licit and illicit financial flows from
Mauritius account for as much as 90%, or tens of billions of dollars,
of foreign direct investment in India each year....
(This article contains approximately 1275 words)
