Statement I:
India has lost a staggering $ 462 billion in illicit financial flows due to tax
evasion, crime and corruption post - Independence according to a report released
by Washington-based Global Financial Integrity.
Statement II:
More than 40% of the FDIs to India originate from Mauritius. Mauritius has now
agreed to negotiate and revise the existing Double Taxation Avoidance
Agreement (DTAA) with India, as capital gains is exempted from tax in
Mauritius and a Mauritian company cannot be taxed in India.