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An Indian dude looking for a bride
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What was that again?
“I expect commodity prices to cool further and that investors had lost confidence in the global economy.We should pause, take a deep breath and wait and see where the pieces fall around the world”– said BHP Chairman Jacques Nasser
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Linkfest:May 22, 2012
Some stuff I am reading today morning:
Warren Buffett’s best metric for market valuation (Moneycontrol)
Why PE funds in India are changing drastically (ET)
JSW Steel battles its iron ore blues (BusinessStandard)
SEBI Watch:SEBI notifies Alternative Investment Funds Regulations (SEBI)
Jain Irrigation:Can’t pay its debts and wants to conquer Africa ! (SuchetaDalal)
Private returns to public office:An amazing paper on wealth accumulation of politicians (NBER)
To the class of 2012 (DailyReckoning)
Keep Single guys away from your portfolio (TRB)
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Is this tax planning or tax evasion?
From Pranabda’s white paper on black money
The Vodafone tax case provides an instance of the misuse of corporate structure for avoiding the payment of taxes.
In this case, the Hutchison Group had made investments in India from 1992 to 2006 through a number of subsidiaries having ‘separate corporate personality’ but which were essentially post box companies based in the Cayman Islands, British Virgin Islands, and Mauritius.
The Hutchison Group sold its entire business operation in India in February 2007 to the Vodafone Group for a total consideration of US$ 11.2 billion and the same was effected through transfer of a solitary share of a Cayman Islands
company.
When the tax authorities requested the accounts of the said company, the answer given was that as per Cayman Islands law, the company was not required to prepare its accounts.