Panama Papers: India Gets Data On 165 Cases With Links To Offshore Firms

Nearly a year after The Indian Express published the Panama Papers, tax authorities have succeeded in obtaining 165 replies — partial or complete — from among 13 jurisdictions where Indian nationals had incorporated offshore companies through the Panamanian law firm Mossack Fonseca. According to data, the number of Indian clients of Mossack Fonseca, whose PAN numbers had been traced, has swelled to 424. Of these, 205 have accepted links to offshore entities named in the global expose. However, 60 other Indians named in the Panama Papers remain untraced. The Multi agency group of MAG comprising officials of CBDT, RBI, Financial Intelligence Unit and ED, was set up last year to ensure a “speedy and coordinated” probe against Indians whose names have figured in the Panama Papers for allegedly holding bank accounts in foreign nations.

[jwplayer brBNiizH-xe0BVfqu] Nearly a year after The Indian Express published the Panama Papers, tax authorities have succeeded in obtaining 165 replies — partial or complete — from among 13 jurisdictions where Indian nationals had incorporated offshore companies through the Panamanian law firm Mossack Fonseca. According to data, the number of Indian clients of Mossack Fonseca, whose PAN numbers had been traced, has swelled to 424. Of these, 205 have accepted links to offshore entities named in the global expose. However, 60 other Indians named in the Panama Papers remain untraced. The Multi agency group of MAG comprising officials of CBDT, RBI, Financial Intelligence Unit and ED, was set up last year to ensure a “speedy and coordinated” probe against Indians whose names have figured in the Panama Papers for allegedly holding bank accounts in foreign nations.