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Government to investigate cases pertaining to Pandora Papers



The Government on 3rd October 2021 has taken note of the developments founded by the International Consortium of International Journalists (ICIJ) pertaining to Pandora papers. To ensure effective investigation, the Government of India would also take help from foreign jurisdictions for obtaining information of taxpayers or entities. Previously the Government of India has enacted the Black money (Undisclosed Foreign Income and Assets) and imposition of Tax Act, 2015 to curb black money or undisclosed foreign assets and income by imposing tax and penalty in such leaks.


The Press Release further noted that the investigation pertaining to Pandora papers leaks appearing in the media under the name ‘PANDORA PAPERS’ will be monitored through Multi Agency Group, headed by Chairman, Central Board of Direct taxes along with representatives from Reserve Bank of India (RBI), Financial intelligence unit (FIU) and Directorate of Enforcement (ED)


Sources

[1]https://incometaxindia.gov.in/Lists/Press%20Releases/Attachments/987/Press-release-Cases-pertaining-to-Pandora-Papers-to-be-investigated-dated-05-10-2021.pdf



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