Tag: declining revenues

TAX SHELTERS: HOW ITS AFFECTING INDIA’S ECONOMY

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Indians have been stocking away cash in the amount of $468 billion between 1948-2008. Based upon that large figure it’s no wonder countries like India are asking the Swiss for help in tracking down its countrymen/countrywomen actual wealth as a means to booster its flagging balance sheet. India commissioned a study in 2011 to ascertain just how much money was not being reported as income by its citizens and although not yet published it is estimated that that figure is close to 30% of that country’s GDP!