29-November-2020
Economy News
 
India losing $10.3 billion in taxes per year due to tax abuse by MNCs, evasion by individuals: Report
21-Nov-2020

India is losing over USD 10.3 billion (about Rs 75,000 crore) in taxes every year owing to global tax abuse by MNCs and evasion by private individuals, a report said on Friday. The State of Tax Justice report said globally countries are losing a total of over USD 427 billion in taxes each year to international corporate tax abuse and private tax evasion. This is costing countries altogether the equivalent of nearly 34 million nurses’ annual salaries every year — or one nurse’s annual salary every second.

News Source:- https://www.financialexpress.com/economy/india-losing-10-3-billion-in-taxes-per-year-due-to-tax-abuse-by-mncs-evasion-by-individuals-report/2133152/