Tax Evasions Current Affairs - 2019

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ICIJ releases Paradise papers

The International Consortium of Investigative Journalists (ICIJ) has released ‘The Paradise Papers’, a global investigation that reveals the offshore activities of some of the world’s most powerful people and companies.

Among 180 countries represented in the data, India ranks 19th in terms of number of names. In all names of 714 Indians have figured in this largest ever black money data leak.

Key Facts

The Paradise Papers are set of 13.4 million documents mainly from Appleby, an offshore law firm with offices in Bermuda and beyond related to offshore investment in some of the world’s most secretive countries. The files were first obtained by German newspaper Suddeutsche Zeitung, and shared with ICIJ and partner 95 media outlets. They contain the names of more than 120,000 people and companies across the globe. Big companies like Facebook, Apple, Microsoft, EBay, Uber, Glencore, Nike, Walmart, Allianz, Siemens, McDonald’s and Yahoo were also named in it.

International Consortium of Investigative Journalists (ICIJ)

The ICIJ is global network of more than 200 investigative journalists in 70 countries who collaborate on in-depth investigative stories. It was founded in 1997 by respected American journalist Chuck Lewis. It was launched as a project of Centre for Public Integrity, focusing on issues that do not stop at national frontiers: corruption, cross-border crime and accountability of power. It is headquartered in Washington DC, US. Earlier in 2016, it had released Panama Papers.

Government sets up new wing to provide intelligence inputs

The Union Government has set up Directorate General of Analytics and Risk Management (DGARM), a new wing to provide intelligence inputs taking action against tax evaders.

It has been has been set up will be under the Central Board of Excise and Customs (CBEC). It will also do big data analytics for taxmen for better policy formulation.

Key Facts

The DGARM was set up on 1 July 2017, coinciding with rollout of Goods and Services Tax (GST). It will function as an apex body of CBEC for data analytics and risk management and will report to the chairman of CBEC. It will utilize internal and external data sources for detailed data mining and analysis to generate outputs for focused and targeted action by field formations and investigation wings of the CBEC.

The field formations of CBEC are also expected to gainfully and effectively utilise the data and other inputs shared by the DGARM. The data analytics and processing coupled with intelligence inputs by DGRAM will provide the CBEC the national and sub-national perspective for policy formulation.