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Tax havens: Super-rich ‘hiding’ at least $21tn
Posted By Adan On July 22, 2012 @ 8:43 am In Economic Crisis,Tile | Comments Disabled
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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