BANKING

Several individuals - including those who were investigated, re-assessed and taxed - have been asked by the Foreign Assets Investigation Unit (FAIU) to share details of offshore bank accounts since 2001, residency status for the past two decades, passport copies and names of overseas service providers. Overseas service providers are professional outfits setting up tax haven vehicles and trusts to hold the funds.

from Banking/Finance-Industry-Economic Times https://ift.tt/xKrFJsTja
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