Citizens from all over the world are using various tricks to hide their ill-gotten gains and tax evasion. Some are hiding their money at home, while others are investing in foreign banks and businesses. Yes, they do not have to pay taxes to the government on the one hand and the black money on the other. The rich are working to protect their wealth. For the common man, these things are beyond information. There is a lot of concern about where to keep it safe.
The Pandora Paper, published by The International Consortiumo investigative journalist in the United States, published details of tax evaders, including not only businessmen but also big politicians. He was blindfolded and was carrying out his own immoral act. This act seems to have taken place not only in one or two countries but also in many other countries of Bosvia.
Over the past seven years, 600 journalists have been involved in the study. The ICCJ study found that 140 countries, including Nepal, were hiding black money. President of Pakistan Prime Minister Imran Khan and President of Kenya are also included in the list.
The CG Group of Companies and Golchha Agranies Company are also involved in hiding the black money and investing it abroad. The company in Beatrice Virginia is named after his wife Sarika Debi and three sons Nirman, Barun and Rahul. There are many citizens who run their business abroad.
Nepal’s law also provides for the right to invest abroad and not to open a bank account from 2021. If found acting against this act, there is a provision of imprisonment for up to 6 months, including Bigo. Other Nepalis are also found to be doing business abroad. Non-resident Nepalis have been found to have done so even though there is no legal recognition to invest in foreign countries by taking money from Nepal. In the eyes of the law, tax evasion is being carried out in collaboration with the leaders of political parties. Thus, the economic prosperity of the country is also being disrupted.