• Tuesday, December 06, 2022

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Crackdown looms for India’s super-rich tax avoiders

Indian billionaire Vijay Mallya is wanted for tax evasion and loan fraud

By: Eastern Eye Staff

Lamborghini rolled out its new $580,000 (£400,000) supercar onto the streets of India this month, but local millionaires tempted to buy the flashy convertible could hit a bump in the road thanks to the taxman. Prime Minister Narendra Modi has vowed to crack down on tax avoidance—notorious in India especially among the super rich—to tackle yawning inequality in the world’s second-most populous nation. Figures published last month for the first time since 2000 showed just how few of India’s top earners pay tax. Only six people earning over 500 million rupees (£5 million) filed returns in 2012-13. The numbers are…

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