Photo: Financial Express
India Loses Rs 75,000 Crore Every Year due to Tax Evasion: Tax Justice Reports 2020
The state of Tax Justice Reports 2020 revealed that the total amount evaded by the tax payers in India are estimated to be USD 10.3 billion (Rs 75,000 crore), every year. The amount is considered to be a huge loss to the country's GDP. According to the reports, it is the Multinational Corporations and wealthy citizens, that indulge in tax evasion. Globally, tax exploitation amounts to USD 427 billion a year.
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