Mentor’s comment-
- https://www.thehindu.com/
opinion/lead/taking-the-lid- off-illicit-financial-flows/ article36974015.ece - In the intro, mention the recent publication of Pandora Papers exposing once again the illegal activities of the rich across the world.
- In the body, mention the effects of illicit financial flows like impact on government revenue due to tax evasion, lowering of tax rates by the governments to attract the capital leading to race to the bottom, moving money out of the reach of the creditors, terrorist financing etc. In the difficulties mention loopholes in the laws, lack of intent on the part of rich countries as these countries are the beneficiaries of these fund movements, actions of the perpetrators are sometimes outside the purview of Indian tax authorities.
- Conclude by mentioning the need for a global minimum tax rate and ending the banking secrecy.
.
Muskan,
Very good answer. Introduction is very good. Good that you have mentioned about current context. All the major points have been covered. You can also talk about role of FATF, parallel economy and its adverse effects. You can also talk about round tripping. Overall a good answer.
Keep writing.
Razor Payment Id
#0000466732
Arpita,
Very good answer. Introduction is very good. Good that you have mentioned about current context. All the major points have been covered. You can also talk about role of FATF, parallel economy and its adverse effects. You can also talk about round tripping. Overall a good answer.
Keep writing.
Razor ID: #0000466569
Siddharth,
Good answer. Introduction can be better by mentioning about current context. All the major points have been covered. You can also talk about role of FATF, parallel economy and its adverse effects. . Overall a good answer.
Keep writing.
Razor pay I’d #0000466436
Ashok,
Good answer. Introduction is good. You can also mention about current context like Pandora paper leaks. All other major points have been covered. You can also talk about FATF and government measures taken in this direction. Overall a good answer.
Keep writing.
Illicit financial flows.
Liya,
Good answer. Introduction is good. Good that you have mentioned about current context like Pandora paper leaks. All other major points have been covered. You can also talk about FATF and government measures taken in this direction. Overall a good answer.
Keep writing.
Razorpay: pay_I8GfoK9Ze5ifgl
Nandhini,
Good answer. Introduction is good. Good that you have mentioned about current context like Pandora paper leaks and wiki leaks but it will be better if you can write these things in the introduction part. All other major points have been covered. You can also talk about FATF and government measures taken in this direction. Overall a good answer.
Keep writing.