offshore tax

[user_gary]

The tangled web of FDI, Participatory Notes (P-notes) and offshore tax havens have all come together in this free flow of funds and big fish could be caught in the web.

Here is how it works:

• People with huge amount of black money in India send the money abroad to tax havens like Maurtius, Seyshells and Cyprus.
• From here the money is routed right back to India through instruments like P-Notes.

Source [ ED nets man worth Rs 35,000 cr : pune, income tax raids, businessman, hasan ali : IBNLive.com : CNN-IBN ]

Please explain the highlighted words.

[Tdol]

tangled web- something very complex and difficult to work out all the connections
offshore tax haven- place outside a country with no tax or very low rates of tax
big fish- important people

[user_gary]

tangled web- something very complex and difficult to work out all the connections
offshore tax haven- place outside a country with no tax or very low rates of tax
big fish- important people

Thank you very much for your help in my threads

[Tdol]

You're welcome, Gary.