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(Flashback) Super-Rich Hold Up To $32 Trillion In Offshore Havens: Report

Thursday, March 26, 2015 20:42

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LONDON, July 22 (Reuters) – Rich individuals and their families have as much as $32 trillion of hidden financial assets in offshore tax havens, representing up to $280 billion in lost income tax revenues, according to research published on Sunday.

The study estimating the extent of global private financial wealth held in offshore accounts – excluding non-financial assets such as real estate, gold, yachts and racehorses – puts the sum at between $21 and $32 trillion.

The research was carried out for pressure group Tax Justice Network, which campaigns against tax havens, by James Henry, former chief economist at consultants McKinsey & Co.

He used data from the World Bank, International Monetary Fund, United Nations and central banks …. http://www.huffingtonpost.com

Source: http://luismmx.blogspot.com/2015/03/flashback-2012-super-rich-hold-up-to-32.html

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