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Tax havens - a big challenge
Experts estimate annual global revenue loss of $200b as result of abuse of tax havens
Salaried class contributed Rs69.4 billion or 7.8% of the total income tax collection in the first half, which was higher by 20% when compared with the same period of last year. PHOTO: FILE
ISLAMABAD:
The Panama Papers, Luxembourg Leaks and Paradise Leaks clearly reveal how tax evasion and money laundering are being carried out on a massive scale through tax havens across the globe.
The ill-gotten and tax-evaded money channeled/ laundered through tax havens has become a global issue for the developing and the developed economies alike. ....

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