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Hiral Jain

Stealth • 6m

Hello everybody! Day 4 of knowing about businesses that are still operating even after being illegal! In a previous post, we saw how businesses accumulate black money, wondering how would they use it later to make any big purchase you need to transact using banks once the money is in your bank gov have an eye on it and if the amount is huge they will always have an eye on any transaction you make, so how do they use the money? Well, it's a long chain of fake companies…, we all know we don't have to pay tax on loan amounts right? This is their trick, let me give it to you in a a simpler version, they will send the money through Hawala to many different companies (shell) and this money will rotate to several companies like them and finally get deposited in a European company and person A would show that he has taken a loan from that company, thus he has his money back! Fun fact: GST was invented in France Continued in comments

8 replies15 likes

Replies (8)

Chandrahaas Sharma Namuduri

Stealth • 6m

fake companies a.k.a suitcase companies

1 replies1 like

Gautam Pareek

Stealth • 6m

It happens when tax rates are high so doing this all will cost less then tax so they operate like this..it happens everywhere in world accept few countries.

0 replies1 like

Anonymous 2

Stealth • 6m

lol yeah, the place where i live has several such shell companies registered. It’s like ghost offices

1 replies1 like

Anonymous 1

Stealth • 6m

Damn.

0 replies1 like

Hiral Jain

Stealth • 6m

As the chain is too long gov fails to find the first hook of the chain, this could also be called as money laundering. Thus, our gov wants us to shift towards online payment as every single transaction is recorded and it's our duty to always collect bills from the shop where we make purchases, it is said that more than 50% of Black money is present in our economy!

0 replies

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Hey there everyone! Day 1 of uncovering businesses that continue to operate even after being deemed illegal! The most illegal and common business is HAWALA its used by many big businesses(money laundering) and terrorist groups( to fund their groups

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