This document discusses the issue of large amounts of illicit Indian money being stored in Swiss bank accounts and tax havens to avoid taxes. It estimates the amount to be between $500 billion to $1.4 trillion. Experts note that while some of this capital flight is legal, a large portion is illegal tax evasion. Tackling this issue requires strong international cooperation on transparency, information exchange, and anti-money laundering frameworks. As obtaining tax information from secretive jurisdictions like Switzerland is difficult, experts suggest India pursue more tax information exchange agreements and pressure international organizations to tighten regulations.
Acceptability of Cashless Economy after Demonetization in IndiaDr. Amarjeet Singh
Demonetization is the demonstration of stripping a
cash unit of its status as legitimate delicate. Demonetisation is
fundamental at whatever point there is an adjustment in
national money. The old unit of cash must be resigned and
supplanted with another money unit.
November the eighth, 2016 - the date has become a
milestone for the Indian economy. It was a customary day for
any Indian, yet then the clock struck 8:15 p.m. also, there was
our Prime Minister tending to the compatriots. In a 25-minute
long discourse, the Prime Minister had pursued a war against
dark cash by pulling back legitimate delicate character of
Rupees 500 and Rupees 1000 notes with impact from 12 PM,
and giving new Rupees 500 and Rupees 2000 set up.
The flooding hazard of phony cash, particularly in
high division, can't be focused on enough. This thus, is stored
as dark cash and is abused by fear based oppressors for
against national and criminal operations. India is as yet known
as a money based economy.
Trust transaction monitoring and aml for swift messagingKeith Furst
This presentation was given at the prestigious ONE Aldwych hotel in London on July 14th 2016. The presentation discusses the implications to finance as regulatory and compliance controls become increasingly strict. How confident can you be that you are doing enough to spot and prevent risky transactions and money laundering attempts? And could technologies like blockchain help to increase confidence in transactions?
In July's edition we're talking about Trust, Transaction Monitoring, and anti-money laundering (AML) for financial messaging specifically:
How secure are current transaction methods?
What are the key weaknesses which can be exploited?
What approaches can be used to identify anomalies in financial messaging traffic?
What are the risks to Compliance Officers and financial institutions?
Are there improvements which can be made transaction monitoring systems?
Can technologies like blockchain be used to increase trust and confidence in financial messaging?
This Tax Guide edition covers various topics and articles such as urgency of Automatic Exchange of Information (AEol) implementation in 2018; divestment in business and policy; also analysis of government plan to impose progressive tax on idle land.
Global Money Transfer (Remittances) Market Report: 2013 Edition – New Report ...Koncept Analytics
The report on global remittance market contains a comprehensive analysis of the global remittance industry along with the study of the regional markets including India, China, Mexico and Philippines. For more mail vikas@konceptanalytics.com
Malaysia Business Digital Economy
Malaysia Business Digital Economy
Malaysia Business Digital Economy
Malaysia Business Digital Economy
Malaysia Business Digital Economy
Acceptability of Cashless Economy after Demonetization in IndiaDr. Amarjeet Singh
Demonetization is the demonstration of stripping a
cash unit of its status as legitimate delicate. Demonetisation is
fundamental at whatever point there is an adjustment in
national money. The old unit of cash must be resigned and
supplanted with another money unit.
November the eighth, 2016 - the date has become a
milestone for the Indian economy. It was a customary day for
any Indian, yet then the clock struck 8:15 p.m. also, there was
our Prime Minister tending to the compatriots. In a 25-minute
long discourse, the Prime Minister had pursued a war against
dark cash by pulling back legitimate delicate character of
Rupees 500 and Rupees 1000 notes with impact from 12 PM,
and giving new Rupees 500 and Rupees 2000 set up.
The flooding hazard of phony cash, particularly in
high division, can't be focused on enough. This thus, is stored
as dark cash and is abused by fear based oppressors for
against national and criminal operations. India is as yet known
as a money based economy.
Trust transaction monitoring and aml for swift messagingKeith Furst
This presentation was given at the prestigious ONE Aldwych hotel in London on July 14th 2016. The presentation discusses the implications to finance as regulatory and compliance controls become increasingly strict. How confident can you be that you are doing enough to spot and prevent risky transactions and money laundering attempts? And could technologies like blockchain help to increase confidence in transactions?
In July's edition we're talking about Trust, Transaction Monitoring, and anti-money laundering (AML) for financial messaging specifically:
How secure are current transaction methods?
What are the key weaknesses which can be exploited?
What approaches can be used to identify anomalies in financial messaging traffic?
What are the risks to Compliance Officers and financial institutions?
Are there improvements which can be made transaction monitoring systems?
Can technologies like blockchain be used to increase trust and confidence in financial messaging?
This Tax Guide edition covers various topics and articles such as urgency of Automatic Exchange of Information (AEol) implementation in 2018; divestment in business and policy; also analysis of government plan to impose progressive tax on idle land.
Global Money Transfer (Remittances) Market Report: 2013 Edition – New Report ...Koncept Analytics
The report on global remittance market contains a comprehensive analysis of the global remittance industry along with the study of the regional markets including India, China, Mexico and Philippines. For more mail vikas@konceptanalytics.com
Malaysia Business Digital Economy
Malaysia Business Digital Economy
Malaysia Business Digital Economy
Malaysia Business Digital Economy
Malaysia Business Digital Economy
We're turning from cash but demande for notes has never been higherCashlessSociety
Last December, Atlas the Labrador was added to the Australian Federal Police force’s Canine Wall of Excellence, honoured for his service as the country’s first cash detection dog.
Atlas has sniffed out hundreds of thousands of dollars in his nine-year career, some hidden in stereo speakers or buried underground. And since he began work, Australian Customs and Queensland Police have followed the AFP’s lead, introducing canine squads focused on currency.
The dogs have their work cut out for them.
In this quarter, we look back on our recent payment Summit and card fraud trends from our latest data release. We also provide an update on developments in regulation.
MEDICI’s new ‘Africa FinTech Report 2020’ is a deep-dive into the sector; it analyzes segments, funding patterns, M&As, partnerships, and countries, and offers perspectives that have been drawn out of regulatory, economic, and market dynamics.
Forensic Accounting Practices and Accountability Evidence from Ministry of Fi...ijtsrd
The main objective of the study is to determine the impact of forensic accounting practices on accountability in Anambra state ministry of finance, Awka, the specific objectives are to ascertain the extent forensic accounting practices ensure accountability in Anambra state ministry of finance and to determine whether lack of forensic accounting practices led to fraudulent activities in Anambra state ministry of finance. The study used survey research design and data were collected from questionnaires distributed from the targeted respondents. Data collected were tested using t test statistical tool. The result shows that forensic accounting practices ensure accountability in Anambra state ministry of finance and lack of forensic accounting practices led to fraudulent activities in Anambra state ministry of finance. The study recommended that government should consider providing more fraud hotlines, improve the whistle blowing policy and establish forensic accounting department in the public sector in order to enhance the fraud detective and preventive mechanism in the public sector. Obada, Paradise J. | Oraka, Azubike O. "Forensic Accounting Practices and Accountability: Evidence from Ministry of Finance, Awka" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42521.pdf Paper URL: https://www.ijtsrd.commanagement/accounting-and-finance/42521/forensic-accounting-practices-and-accountability-evidence-from-ministry-of-finance-awka/obada-paradise-j
Forensic Accounting under the Realm of Financial Crime – A Studyijtsrd
This study was conducted under the title Study of Forensic Accounting Under the Realm of Financial Crime and the article tried to achieve some objectives. These objectives are To study forensic accounting. To study the difference between forensic accounting and Traditional Accounting. To study the way forensic accounting helps to explain the nature of financial crime. This article is based on secondary data, which includes books, magazines, articles, websites, reports, etc. In this article, it is tried to introduce all the concepts related to forensic accounting. Some terms like forensic accounting, financial crime, objective of forensic accounting, and difference between traditional accounting is discussed. Forensic accounting is a term used to describe the type of interaction. This is the whole process of conducting forensic investigations, including preparing an expert report or witness statements and potentially acting as an expert witness in the legal process. Forensic accountant uses different techniques to analyses the accounting information and finding financial crimes. The forensic accountant tries to detect any errors by carefully studying the financial records and reviewing the accounting records. Mr. Sayeed Sultan Ahmad Hossaini | Ms. Fateme Samandi "Forensic Accounting under the Realm of Financial Crime – A Study" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd43641.pdf Paper URL: https://www.ijtsrd.commanagement/accounting-and-finance/43641/forensic-accounting-under-the-realm-of-financial-crime-–-a-study/mr-sayeed-sultan-ahmad-hossaini
We're turning from cash but demande for notes has never been higherCashlessSociety
Last December, Atlas the Labrador was added to the Australian Federal Police force’s Canine Wall of Excellence, honoured for his service as the country’s first cash detection dog.
Atlas has sniffed out hundreds of thousands of dollars in his nine-year career, some hidden in stereo speakers or buried underground. And since he began work, Australian Customs and Queensland Police have followed the AFP’s lead, introducing canine squads focused on currency.
The dogs have their work cut out for them.
In this quarter, we look back on our recent payment Summit and card fraud trends from our latest data release. We also provide an update on developments in regulation.
MEDICI’s new ‘Africa FinTech Report 2020’ is a deep-dive into the sector; it analyzes segments, funding patterns, M&As, partnerships, and countries, and offers perspectives that have been drawn out of regulatory, economic, and market dynamics.
Forensic Accounting Practices and Accountability Evidence from Ministry of Fi...ijtsrd
The main objective of the study is to determine the impact of forensic accounting practices on accountability in Anambra state ministry of finance, Awka, the specific objectives are to ascertain the extent forensic accounting practices ensure accountability in Anambra state ministry of finance and to determine whether lack of forensic accounting practices led to fraudulent activities in Anambra state ministry of finance. The study used survey research design and data were collected from questionnaires distributed from the targeted respondents. Data collected were tested using t test statistical tool. The result shows that forensic accounting practices ensure accountability in Anambra state ministry of finance and lack of forensic accounting practices led to fraudulent activities in Anambra state ministry of finance. The study recommended that government should consider providing more fraud hotlines, improve the whistle blowing policy and establish forensic accounting department in the public sector in order to enhance the fraud detective and preventive mechanism in the public sector. Obada, Paradise J. | Oraka, Azubike O. "Forensic Accounting Practices and Accountability: Evidence from Ministry of Finance, Awka" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42521.pdf Paper URL: https://www.ijtsrd.commanagement/accounting-and-finance/42521/forensic-accounting-practices-and-accountability-evidence-from-ministry-of-finance-awka/obada-paradise-j
Forensic Accounting under the Realm of Financial Crime – A Studyijtsrd
This study was conducted under the title Study of Forensic Accounting Under the Realm of Financial Crime and the article tried to achieve some objectives. These objectives are To study forensic accounting. To study the difference between forensic accounting and Traditional Accounting. To study the way forensic accounting helps to explain the nature of financial crime. This article is based on secondary data, which includes books, magazines, articles, websites, reports, etc. In this article, it is tried to introduce all the concepts related to forensic accounting. Some terms like forensic accounting, financial crime, objective of forensic accounting, and difference between traditional accounting is discussed. Forensic accounting is a term used to describe the type of interaction. This is the whole process of conducting forensic investigations, including preparing an expert report or witness statements and potentially acting as an expert witness in the legal process. Forensic accountant uses different techniques to analyses the accounting information and finding financial crimes. The forensic accountant tries to detect any errors by carefully studying the financial records and reviewing the accounting records. Mr. Sayeed Sultan Ahmad Hossaini | Ms. Fateme Samandi "Forensic Accounting under the Realm of Financial Crime – A Study" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd43641.pdf Paper URL: https://www.ijtsrd.commanagement/accounting-and-finance/43641/forensic-accounting-under-the-realm-of-financial-crime-–-a-study/mr-sayeed-sultan-ahmad-hossaini
Money Laundering The Juxtaposition of Laws for Comparative Analysisijtsrd
Money laundering is a problem that has become increasingly pervasive in recent times and a major concern for governments around the world. It is a process of concealing the proceeds of illegal activities as legitimate income. It is a serious crime that has implications for national security, economic stability, and financial integrity. Money laundering is a global problem, and countries have developed various legal frameworks to prevent, detect, and prosecute it. This research journal will provide a comparative analysis of money laundering laws in the United States, Saudi Arabia, and India. Further, this paper will also examine whether India needs to make changes to its money laundering laws. Siddesh Dasari "Money Laundering: The Juxtaposition of Laws for Comparative Analysis" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-3 , June 2023, URL: https://www.ijtsrd.com.com/papers/ijtsrd56291.pdf Paper URL: https://www.ijtsrd.com.com/humanities-and-the-arts/other/56291/money-laundering-the-juxtaposition-of-laws-for-comparative-analysis/siddesh-dasari
Why are Indians so much hyper about black money abroad when it is a worldwide...D Murali ☆
Why are Indians so much hyper about black money abroad when it is a worldwide phenomenon? - T. N. Pandey - Article published in Business Advisor, dated February 25, 2015 http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Corporate Tax Planning (VV2)
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Learn what can you do to stay a step ahead of fraudsters without limiting revenue growth. Prevent Financial Fraud in your organization with the help of HLB HAMT
Demonetization and its effects
Dr. Abdul Azeez N.P.
Assistant Professor of Economics,
Aligarh Muslim University Malappuram Centre abdulazeeznp@gmail.com
Learn what can you do to stay a step ahead of fraudsters without limiting revenue growth. Prevent Financial Fraud in your organization with the help of HLB
IMF PAPER: REGULATION SHOULD PRESERVE BENEFITS OF DIGITAL CURRENCYSteven Rhyner
The International Monetary Fund (IMF) has released a staff paper that examines the risks and use cases of virtual currencies such as bitcoin, recommending a balanced regulatory framework that will not stifle innovation.
The Behavioural Finance Aspects of Chit-Fund Scams of Odisha: Loss is almost ...inventionjournals
The research in this paper has been conducted from within the theoretical framework of behavioural finance. The aim of this paper is to examine chit fund scams and its aftermath effect on Individuals & Households of Odisha. The study provides post-mortem analysis of changes in attitude investors towards chit funds. The data comprise a random sampling of 112 respondents drawn through a field survey. Different statistical tests were performed to assess support for the hypothesis.The results of data analysis reveals due to lack of financial literacy and sophistication, investors are simply more exposed to idiosyncrasies of the chit fund companies. Expectations of earnings high commission and high rate of return attracted investors to join chit funds. Someone known to investors or some of the family member or relative persuaded investors to join in chit funds. Majority of the respondents believe that the chit fund agent cheated them and they were unknown about the chit fund company and they believed the chit fund agents. The study shows that laxity in regulatory system and nexus between the politicians and chit fund companies paved way for the perpetrators to commit frauds. The study shows that investors are now more aware about these Chit Fund companies because of the relentless media coverage and would be more careful before investing next time.
The initiatives proposed by honourable Finance Minister in his budget speech on February 28, 2016 to effectively deal with the problem of black money, which eats into vitals of our society and economy, are highly commendable. The measures initiated by the government in the last nine months to bring back the black money in Swiss Banks has already brought very fruitful results and the names and the details of possible offenders have already been disclosed to Special Investigation Team set up by honorable Supreme Court.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
1. www.iitrade.ac.in
The Swiss Connection
(Published in the Financial Express on 20th September, 2009)
Though a whopping $500 billion to $1.4 trillion Indian money is stashed in “Swiss tax havens” it will be a
tough task for India to get the money back home.
You don’t have to be a millionaire to open a Swiss bank account! It takes just 5,000 Swiss francs, that’s
what my-swiss-account.com and swiss-bank-accounts.com claim. But given the stakes involved, it’s been
quite a cat and mouse game for the world to unearth this Swiss effect and for India it’s been no different.
With an alleged $500 billion to $1.4 trillion Indian money parked in the ‘Swiss tax havens’ and the continued
denial by the Swiss authorities that the money “simply does not exist,” the paradox is evident.
Even as experts mull over how these figures are ascertained, there is no denying the fact that money is
siphoned off to Switzerland and other tax havens not just from the developing countries but from world
over. Uri Dadush, Director, International Economics Programme, Carnegie Endowment for International
Peace, Washington DC, points outs, “We have to take these figures with a pinch of salt, however it is true
that more often than not money is siphoned off and declarations not made. But, the bottom-line is, it is
impossible to know the amount unless you have a very strong reporting system in place. There is a
discrepancy in the Balance of Payments but the data is not always accurate, as the flow of money is not
picked up precisely and there is a possibility of the missing data.”
Given that capital flight has complex forms, experts point out that it is important to demarcate between the
legal (licit) and illegal (illicit) forms of flight. Licit flight capital is calculated as portfolio investment and other
short term investments in the country but excludes longer term investments and foreign direct investment.
Legal capital has a record in the books of the entities involved, earnings from interest, dividend, and
realised capital gains normally returned to the country of origin. Illicit capital flight disappears from the
books of accounts of the entities involved and any earnings from the capital are not recorded in the books
of the country of origin.
D R Agarwal, Director, Institute of International Trade, Kolkata affirms, “The cross-border component
of bribery and theft by government officials is the smallest, accounting for only about 3% of the global total.
The criminal component constitutes about 30 to 35% of the total. And the commercially tax-evading
component, driven primarily by falsified pricing in imports and exports, is by far the largest, at 60 to 65% of
the global total.”
Illicit funds that move through world financial systems pass through an intricate process which involves
placement, layering and integration. As Agarwal explains, “In the first stage the hard currency generated
through the sale of drugs, firearms, prostitution, or human trafficking etc, or for sheer tax evasion, is
deposited in an institution or business. Expensive property or assets may also be bought. In the second
stage, the illegally obtained assets or funds are separated from their original source. This is achieved by
creating multiple layers of transactions, by moving the illicit funds between accounts, between businesses,
1
2. www.iitrade.ac.in
and by buying and selling of assets locally and internationally until the source of the money is virtually
untraceable. Thus, the originator’s anonymity is achieved. After this in the integration stage, the funds are
reintroduced into the financial system, as payment for services rendered, which makes the funds resemble
legally obtained wealth.”
Monica Singhania, Associate Professor, Faculty of Management Studies, University of Delhi, shares, “It is
well documented that since1960s, the US has effectively created an integrated global financial structure to
facilitate the movement of illicit funds across borders. This parallel global financial structure is primarily
assisted in its functioning by tax havens, now more than 85 in number. A large number of tax havens are
secret jurisdictions, where business organisations can be set up behind the façade of nominees and
trustees in such a manner that no one knows who the real owners and managers are. Such jurisdictions
offer flexibility to nominees and trustees of disguised business organisations to exit from one secret location
to another in the event that anyone comes seeking to find out who are the real owners of such businesses.
Also anonymous trusts/ fake foundations and disguised companies are a party to it.”
Haven sent
Given that Switzerland is politically stable and ideologically neutral nation it has been a famous tax haven
for generations due to its banking secrecy norms and attractive taxation rates for high net worth individuals.
Reportedly, Swiss National Bank data from May revealed that Swiss banks held around 2.9 trillion Swiss
francs in assets and 3.9 trillion francs in custody accounts including 1.1 trillion francs held for private
clients. The popularity of Swiss banks continues to increase as countries around the world seek to impose
even higher rates of taxation on their citizens. Since the UK announced that it would be levying 50% tax on
those who earn over £150,000 from April next year, there has apparently been a marked increase in the
number of wealthy Britons seeking taxation refuge in Switzerland.
However, the pinch of the loss is more for the developing countries who are deprived of the much needed
tax revenue. Siddhartha Mitra, Head, CUTS Centre for International Trade, Economics & Environment,
Jaipur, avers, “This outflow of $1.4tn exceeds the entire annual gross national product of India. It has
denied the government of approximately $0.4 trillion of tax revenues which could have been used to reduce
our physical and social infrastructure deficit. Moreover, the flow of such a large amount of money within the
Indian economy would have generated large multipliers for employment and incomes.”
Statistics available on Union Finance Ministry website on the country-wise approvals for Direct Investments
in JVs and wholly-owned subsidiaries during 1996-2007 reveal that more than one-third of outflows out of a
total of around $31,000 million is to well known tax havens like Channel Island ($5,400 million), Mauritius
($2,600 mn), Virgin Islands ($1,008 mn), Cyprus ($1,361 mn) and Cayman Islands ($104 mn). Agarwal
questions, “Indian businessmen, howsoever capable, cannot think of investing $5,400 mn or around Rs
21,000 crore in Channel Island. Data is not available for FIIs, not even in terms of who are the
corresponding investors.”
Tracking tax
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3. www.iitrade.ac.in
Given that tax havens are a reality of today’s globalised economic and business landscape, Manoj Vohra,
Director Research and Senior Editor, Economist Intelligence Unit, shares there are two sides to them.
“They can promote tax competition, driving governments towards better tax policy. On the other hand, if
abused and opaquely regulated, tax havens can cost the exchequer vast sums of money, forcing
governments to keep tax rates high. Presently, the second argument seems more convincing. But it doesn’t
make the first argument invalid!” Vohra further adds, “Tax structure minus abuse would result into
transparent tax competitive regimes, which is healthy for a global, free-market economy.”
Sudhir Kapadia, Tax Partner, Ernst &Young says, “The proposed Direct Tax Code has stringent General
Anti-Avoidance Rules (GAAR) where under any transaction entered with the sole objective of obtaining tax
benefits can be termed as ‘impressible’ by tax authorities and these could be re-characterised to reflect
their true commercial import. However, it’s important that provisions such as GAAR are applied more
against tax evaders rather than genuine business transactions which may have resulted in legitimate tax
savings.”
Kapadia adds, “The crux of the challenge is to gather robust data that will meet the standards of legal
defence and complete the process of conclusively establishing tax evasion in a timely manner. A ‘National
Information Registry’ should be established wherein all the current data generated within various agencies
of government can be compared and gaps established to then nail down offenders. For example,
importation data with customs, forex payment data with RBI, cash withdrawals data with banks, VAT data
on various high value purchases etc. The investment which government will make in such an effort would
be more than justified by increased tax revenues from tax evaders.”
Experts opine strong institutional mechanisms, international cooperation, uniform international regulatory
system and transparency in the international financial transactions may help in stemming the cross-border
transfer of illicit capital.
NK Jain, Secretary and CEO, The Institute of Company Secretaries of India, points out that the
membership of Financial Action Task Force (FATF) would help India become part of international initiatives
against money laundering. Jain advocates how the FATF is engaged in continuous and comprehensive
efforts both to define policy and to promote the adoption of counter measures against money laundering. “It
has made 40 + 9 recommendations to combat the problem. Adoption of these recommendations would
help the international community in increasing transparency in the financial system. The Task Force on
Financial Integrity and Economic Development has also developed a Five-Point Plan to increase
transparency within the global financial system which addresses issues of trade mispricing, country-by-
country reporting, beneficial ownership and automatic exchange of tax information.”
Kapadia suggests that India should enter into ‘tax information exchange’ agreements with key tax treaty
partners like Switzerland wherein specific data on suspected tax evaders can be asked for and obtained by
Indian Government. With the recent deal to disclose details of about 4,450 American clients of UBS to US
authorities there have been similar demands from Indian quarters as well.
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The G20 recently announced that it was ‘ready to use countermeasures against tax havens from March
2010.’ But Dadush is cautious, “Very few countries have the economic and political clout like the US to
enable disclosing of such information. And the G20s call is not in the nature of a ‘binding agreement’. This
is a long term process and will require a coordinated global effort.”
Given that Switzerland is reeling under tremendous pressure to enter into ‘exchange of information’
agreements in addition to ‘Double tax avoidance treaties’ India has all the more reason to push for them.
The challenge, however, is that Switzerland remains just one among the many tax havens globally.
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