Indians have $627b stashed in tax havens: Police
Category: Tax Havens, Uncategorized
Published on Feb 13, 2012
NEW DELHI (AFP) - Rich Indians have stashed away almost US$500 billion (S$627 billion) of illicit money in tax havens abroad, the country's top police agency said on Monday.
'It is estimated that around US$500 billion of illegal money belonging to Indians is deposited in tax havens abroad,' A. P. Singh, director of the Central Bureau of Investigation (CBI), told an Interpol conference in New Delhi.
Mr Singh said the countries rated as being the least corrupt by Transparency International, a global anti-graft watchdog, turned out to be the ones where 'most of the corrupt money goes'.
'The tax havens include New Zealand which is ranked as the least corrupt country and Switzerland number seven,' he said, according to the Press Trust of India.
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Indians have $627b stashed in tax havens: Police
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