Role of Banks in Tax Planning: A Case of ICICI Bank

Banks playing an imperative role in smoothing tax planning by individuals and firms. Bagging bank-client relations using lending contracts and measuring client tax avoidance an effort has been made to analyze how banks are associated with tax avoidance by borrowers and other individuals. The haste with which tax and legal systems in various countries familiarize to one should possibly pursue or remedy these complex expansions. Commercial and investment banks, insurance companies, wealth managers and other financial service providers always helps users to cope up with tax issues. Financial institutions and banks in particular, are well-placed to be implored in aggressive tax planning. Their network of entities across manifold jurisdictions provides a conduit for this tax management. Their skill to adapt often immensely complex financial securities can respond to any believable tax planning demand.