The data leak which reveals the global trail of many Indian corporates in tax havens has to be viewed against this framework. For sure, not all these offshore structures are illegal. Many large Indian firms have global operations now and may, like their global peers, take recourse to “aggressive” tax planning. After the Panama leaks, the government was quick to form a multi-agency group to probe all cases of Indians who had set up such offshore structures and launch prosecutions in some cases. It is welcome that the government has swiftly responded this time by announcing a multi-agency group to probe the Paradise papers.

Source: Indian Express November 06, 2017 20:03 UTC