Geneva businessman forced to pay millions in back tax

Wednesday, 1 September 2021 03:51

Geneva tax authorities have seized CHF 125m in tax from the Swiss nationalized Indian businessman Prakash Hinduja.

The family run a multinational conglomerate which is involved with finance, health, media and industry.

Courts agreed Hinduja claimed he’d moved to Monaco, but in fact stayed with his family in Cologny and so avoided Geneva tax.

He’s also accused of taking undeclared income from funds based in the Isle of Man.

The family itself is also involved in an internecine legal fight as to the ownership of the Hinduja Bank in Geneva.

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