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.

More from Bitesize News

Too many demos in Geneva?

Geneva is examining the issue of demonstrations and the impact they’re having on local businesses.
City of Geneva makes more money

The City of Geneva has revealed its accounts will show a CHF 200m surplus for last year.
Yes, cars are bigger

New figures show something we’ve all suspected for the last few years – cars are getting bigger, but parking spaces stay the same.
Bike thefts up - rarely solved

Bike thefts in Geneva are on the rise and very rarely solved.
Man tried to open door on SWISS flight

A man was arrested at Zurich airport after a SWISS International Airlines flight arrived back from Bangkok.
Zurich fans caused CHF 100,000 of damage

Zurich football fans caused CHF 100,000 worth of damage to the Stade de Genève during a match on April 6th.