Question
For which of the following reasons, offshore financial
centers have faced criticism?Solution
Offshore financial centers: Offshore financial centers (OFCs) are jurisdictions that provide tax and regulatory advantages to businesses and individuals. These are centres that are primarily tax havens for wealth management and global tax management rather than providing the fully array of international financial services. Examples include the Cayman Islands, Bermuda, and the British Virgin Islands. These centers offer low taxes, minimal regulation, and strict secrecy laws that make them attractive to those seeking to reduce their tax burden or conceal their financial activities. However, OFCs have faced criticism for facilitating tax evasion and money laundering.
SAMRIDDHI, a one - time property tax amnesty scheme has been released by which state or UT ?
Who won FIDE World Chess Championship 2021?
Which is not a type of External Commercial Borrowings (ECB)?Â
Alysa Liu, a 2022 Olympian and world championships bronze medalist, is retiring from competitive figure skating at age 16. She is from ___________.
What is Fitch Ratings' revised growth forecast for India for FY25?
Statements:
1. The Reserve Bank released the 29th Financial Stability Report (FSR) in June 2024.
2. SCBs' gross non-performing assets (GNP...
Which of the following module RBI is planning to move to Daksh platform?
What is the cash prize associated with the International Gandhi Peace Prize awarded by the Government of India?
When will NPCI implement stricter UPI rules prohibiting special characters in transaction IDs?
Which of the following statements about the continuation of the "Safety of Women" umbrella scheme is/are correct?
1. The Union Cabinet approved t...
