Indian tax drive to yield little cash for government
New Delhi
THE Indian government has sent out about 700,000 notices to suspected tax evaders to coax them to declare hidden income and assets, promising they won't be pursued by the authorities if they pay a penalty now to clear their name.
But, as the four-month campaign draws to a close this week, there looks to be few takers despite a high-profile warning that this is the last chance for tax dodgers to come clean.
Officials privately acknowledge they are likely to miss their internal goal to raise about 500 billion rupees (S$10 billion) by a wide margin, though there is no public target.
Disclosures up to mid-September would be enough to generate around US$1.5 billion …
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