Unearthing black money

Unearthing black money continues to be a big issue in Indian politics. The opposition political parties have been demanding strong steps from the government in confiscating black money stored in foreign banks while the government itself has done little to inspire confidence, while also pleading its inability to act in the face of international laws. An article by JNU’s Arun Kumar poses some of the usual, simple questions – 

The government pleads that tax havens do not reveal names unless criminality is established and that the Swiss government does not treat tax evasion as a crime. The moot point is why did the Swiss government announce the immediate freezing of Hosni Mubarak’s assets without the Egyptian government giving any evidence of criminality? Further, why did UBS agree first to give the names of 250 U.S. citizens and then another 4,500 names to the U.S. tax authorities in 2007-08 without any criminality being individually established? 

Answers to some of these questions would be nice, for a start… 


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