White-collar crimes, such as fraud, embezzlement, and insider trading, are non-violent financial offenses committed by professionals or public officials. These crimes can severely impact businesses, investors, and economies, with enforcement led by agencies like the FBI, SEC, and SFO.
Recent reforms, including faceless assessments and reduced corporate tax rates, aim to reduce corruption and encourage investments. The introduction of a digital tax on foreign digital services and ongoing GST simplifications further enhance the system's efficiency.
Digital tools and AI are improving transparency and curbing tax evasion, making India's tax system more efficient. Ongoing reforms and global integration help foster economic growth while ensuring compliance and offering exemptions.
