Thursday, September 26, 2013

Off shore funds

There was a criticism raised, a question raised about the figure I gave of  some $3 Trillion dollars in off shore accounts.
Here is supporting evidence.

Financial tax
This Forbes article describes some of the size of the problem.

U.S. corporations.
note.  European corporations also have off shore funds, as do Asian corporations.  So, the above is only a partial- U.S. list.
The OECD study was also sent to the respondent.


Tax Havens by the Global Elite.
Hiding money off shore.
$21 trillion: Hoard Hidden From Taxman By Global Elite

* Study estimates staggering size of offshore economy
* Private banks help wealthiest to move cash into havens

Heather Stewart, business editor
21 July 2012

A global super-rich elite has exploited gaps in cross-
border tax rules to hide an extraordinary £13 trillion
($21tn) of wealth offshore - as much as the American and
Japanese GDPs put together - according to research
commissioned by the campaign group Tax Justice Network.

James Henry, former chief economist at consultancy
McKinsey and an expert on tax havens, has compiled the
most detailed estimates yet of the size of the offshore
economy in a new report, The Price of Offshore
Revisited, released exclusively to the Observer.
See article for details. 

No comments:

Post a Comment