BJP wants anti-tax haven laws: Advani | india | Hindustan Times
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BJP wants anti-tax haven laws: Advani

BJP on Friday demanded specific anti-tax haven laws to bring back black money worth thousands of crores of rupees, stashed away by Indians abroad and asked the government not remain mute spectator to the efforts of G-20 to deal with the corrupt practice.

india Updated: Apr 17, 2009 18:00 IST

BJP on Friday demanded specific anti-tax haven laws to bring back black money worth thousands of crores of rupees, stashed away by Indians abroad and asked the government not remain mute spectator to the efforts of G-20 to deal with the corrupt practice.

"Like the obama Administration is planning specific anti-tax haven laws, India must also target tax havens and secret destinations like Switzerland," BJP Prime Ministerial candidate L K Advani said releasing an interim report of his party's Task Force.

"Legislations to enable the government to initiate legal action and simplify procedures to take action against people who have stashed their money in tax havens should be enacted," the Task Force said in one of its recommendations.

"Most of this money has emanated from kickbacks in major deals entered by the government, under and over invoicing, laundering of drug money and money generated through corruption," it alleged.

The interim report has been prepared by a four member committee comprising Gurumurthy, Ajit Doval, R Vaidyanathan and Mahesh Jethamalani.

The Task Force was set up by Advani to recommend steps that a future government may take to translate the promise of bringing Indian money back from foreign accounts, into reality.