India has offered amnesty to more than 100 wealthy citizens who evaded taxes by hiding funds in accounts in HSBC Holdings Plc (HSBA)’s Swiss unit, according to a government official with knowledge of the matter.
The income tax department has agreed not to start criminal proceedings or levy a penalty if the Indians repatriate the money from Geneva and pay the taxes, the official said, asking not to be identified because the information is confidential. The official declined to name anyone on the list.
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