Section 133A of the Act enables an income-tax authority to enter any place of business or profession or charitable activity within its jurisdiction to verify the books of account or other documents.
Chinese companies, already suffering from a poor image in corporate ethics, are continually violating the laws through corruption and criminality in Bangladesh, causing loss to the national treasurer.
A clear message from the Kanpur episode is that the cash economy is alive and kicking. Probably, instead of outlawing cash, the Government should try to integrate the cash economy in the formal economy. Also, Direct and Indirect Tax provisions should be harmonised. That said, ersatz solutions like tinkering with tax rates cannot solve the deep-rooted structural problems of our tax system
The biggest stumbling block to booking the persons involved in money laundering and large-scale tax evasion is the tedious procedure for exchange of information. Tax havens are understandably reluctant to share information but no country in the world is willing to part with information that has the potential of harming its citizens, so, procedural reasons are routinely cited to deny the request for information from foreign jurisdictions.
The I-T department filed a case saying the foundation did not have a Foreign Contribution Regulation Act (FCRA) license at that time to receive payment from a foreign organisation.
Meat exporter Moin Akhtar Qureshi, arrested in a money laundering case, was on Friday remanded in judicial custody till September…
Prosecutors allege he took "advantage of a company structure created in 2010 to hide income".
Prosecutors accuse Ronaldo of having evaded €14.7 million ($17.3 million) in tax.
Ronaldo has defended himself, saying his "conscience is clear".
A Brazilian federal court judge has dropped criminal charges against Barcelona footballer Neymar.
