Black Money and Tax Havens

<p>Just how much black money is there in India?<br>Estimates vary from 10 per cent to 20 per cent of our GDP. Conservatively Rs 15 lakh crore (10 per cent of Rs 150 lakh crore our GDP in 2016-17).<br>As for Indian money in tax havens around the world? Around Rs 65 lakh crore. Truly astounding figures.<br>Black money or <i>kala dhan</i> is a topic that has elicited much debate in recent times. This has been mostly marked by mudslinging and name-calling and the discussions that have ensued often have no basis in fact. While most people have a hazy notion of black money only a few understand it in its entirety.<br>The issue of tax havens is perhaps even more misunderstood. Most people fail to see the connection between tax havens and black money. <i>Black Money and Tax Havens</i> is the first work that discusses both of these issues in depth and offers a 360-degree view to the reader.<br>In this work R. Vaidyanathan provides the reader with a brief overview of black money-its generation its estimates and how and why it is spirited away to tax havens. He also lays bare the danger that is posed to world financial well-being on account of the lack of political will to tackle these issues. A unique and timely work this book packs in much information in an accessible manner.</p>