Photo: David doubilet / national geographic / getty images
$21tn: hoard hidden from taxman by global elite
• Study estimates staggering size of offshore economy • Private banks help wealthiest to move cash into havens 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 ... Full Story »
Posted by Jack Powers - via Umair Haque, Tim O'Reilly, Google News (Global Economy)
