Abstract:

The issue of offshore tax havens has come to dominate our recent public discourse with some
conservative estimates that have put the value of Indian money stashed away in the foreign
banks at a meteoric $ 462 billion. The tax havens provide a protective sheath to all sorts of
black money generated through different sources viz. corporate and individual tax evasion,
global drug trade, illegal arms trade, fraud, political corruption and the like

This paper makes an attempt to study and analyze the dynamics of offshore tax havens on
global and Indian economy, the policies of government towards tax havens and the extent to
which they have been successful.