Without a doubt, investigation is challenging and complex and may be the tallest summit in the quest to control financial crimes. In this book, author has discussed key rulings of Indian as well as foreign courts, and brought out the modus operandi discussed in major court rulings. Looking ahead, some of the most pressing issues that need to be addressed include the continuing harmonization of laws with a view to strengthen laws and procedures that make economic crimes difficult to commit. Further, Business managers and forensic auditors should be aware of how these syndicates perform, so that they can raise red flags on detecting accommodation entries made in accounts on behest of the syndicates. Good tax policy must therefore take explicitly into account the international setting. Countries cannot, and should not, consider and pursue policy objectives and decisions in isolation. However, as they accumulate over time the system as a whole may become less coherent as the fictions are increasingly tested by circumstances with which they were not meant to contend. The present patchwork of administrative devices and practices may have become so intrinsic to orderly tax administration that by default it has become ‘the system.’ In short, the next generation of tax policy changes in countries heavily dependent on international developments will likely have to take more explicitly into account the limitations on national fiscal autonomy imposed by a shrinking economic world. When the traditional closed economy analytical box no longer adequately encompasses the critical marginal (international) component of the tax base tax policy choices will increasingly have to be framed outside that box.
Loophole games A.K.A Tax jugaad is an excellent read in terms of its ability to give a lucid picture of the ever dynamic tax laws and the cat and mouse games between revenue generators and revenue collectors. Particularly so in a fast developing country which is challenged with a need to make the tax laws less suffocating and more facilitating. The problem with such a benign approach is that it colours the line between tax avoidance and tax evasion in a shade next to translucent. Books like this are very important to understand the practicalities of intricate economic structures, a must read for businesses and the regulators.
Nice work. However I don't agree with the writer on his stance on IP migration. Start us resort to externalization because they get good IP protection in Singapore and Hong kong kind of places. The writer insists that they change the domicile of their parent company to these countries to save taxes. Tax saving may be a minor concern; major concern of start ups behind externalization is to safeguard their intellectual properties. His way of dealing other topics seems balanced.
Congratulations Topics chosen are of utmost importance, an eye opener and guidance lines to all the revenue departments. Hope everyone reads this book with the same intention you have written it and make use of it in achieving the purpose for which it is written for.
I like how the author coherently explains all the terms used in taxation laws, to a lay person. The book's flow makes it for an engaging read. I did not like tax laws in law school but this book has rekindled my interest. Great read!