Tax havens: Super-rich ‘hiding’ at least $21tn

BBC.co.uk
July 22, 2012

A global super-rich elite had at least $21 trillion (£13tn) hidden in secret tax havens by the end of 2010, according to a major study.

The figure is equivalent to the size of the US and Japanese economies combined.

The Price of Offshore Revisited was written by James Henry, a former chief economist at the consultancy McKinsey, and commissioned by the Tax Justice Network.

He said $21tn is a conservative figure and the true scale could be $32tn.

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This article was posted: Sunday, July 22, 2012 at 8:43 am

Tags: financial

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