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    #1

    offshore tax

    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.

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    #2

    Re: offshore tax

    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


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    #3

    Re: offshore tax

    Quote Originally Posted by Tdol View Post
    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

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    #4

    Re: offshore tax

    You're welcome, Gary.

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