James Henry, a former chief economist at consultancy McKinsey and an expert on tax havens has conducted new research for the Tax Justice Network campaign group using data from the Bank for International Settlements (BIS), the International Monetary Fund (IMF) picture that shows capital flooding out of countries across the world and disappearing into the cracks in the financial system. In total, 10 million individuals around the world hold assets offshore, according to Henry's analysis; but almost half of the minimum estimate of $21tn – $9.8tn. French economist Thomas Piketty, "an expert on inequality who helps compile the World Top Incomes Database, says research by his colleagues has shown that "the wealth held in tax havens is probably sufficiently substantial to turn Europe into a very large net creditor with respect to the rest of the world."
http://www.theguardian.com/business/2012/jul/21/offshore-wealth-global-economy-tax-havens
No comments:
Post a Comment