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21 trillions dollars in escape towards fiscal paradises

CAPITAL FLIGHT FROM DEVELOPING COUNTRIES: THE TOP 20 LOSERS WHERE AND WHAT ARE TAX HAVENS? A tax haven is any jurisdiction that uses the promise of secrecy for overseas investors to compete for financial flows. As well as a low-tax regime, or special rules that allow foreigners to slash their liabilities, a tax haven often has a network of lawyers and accountants who help the wealthy shield assets from their home country's tax authorities HUNGARY RUSSIA $242bn Bermuda • US PACIFIC POLAND Hong Kong OCEAN ATLANTIC • UK • Latvia • Philippines CHINA OCEAN • Isle of Man • Ireland • Germany • Netherlands $798bn Marshall Islands . • Bahamas • Singapore $165bn Cuba • Turks & Caicos Is •Luxembourg • Nauru Cayman Is Jersey Switzerland British Virgin Is Anguilla Antigua & B Dominica St Lucia •Liechtenstein INDIAN Guernsey/Sark/ Alderney Samoa . UKRAINE Belize OCEAN St Kitts & Nevis St Vincent & G •San Marino Vanuatu • CARIBBEAN Cook Islands • Monaco ΚΑΖΑΚΗ S TAN SEA Australia Aruba. Grenada• Barbados Netherland Antilles $167bn $1,189bn •Costa Rica • Gibraltar • Malta Суprus $138bn Panama In the Caribbean In Europe In Asia and Oceania TURKEY IRAN VENEZUELA $158bn $147bn ΜΕΧICO IVORY COAST MALAYSIA SOUTH KOREA SAUDI ARABIA $406bn $141bn $417bn $283bn INDONESIA $308bn BRAZIL $779bn KUWAIT $331bn NIGERIA $520bn SINGAPORE $496bn KEY: Cumulative capital flight $306bn $169bn 1970s-2010 * ARGENTINA Financial assets transferred to tax havens as percentage of foreign debt % of foreign debt Financial assets transferred to offshore tax heavens $21tn s9.8tm 55-100 300-500 1,000-3,876 $399bn 91,186 100-300 500-1,000 no data worldwide total 2010 owned by individuals MAP: GIULIO FRIGIERI *China, Poland, Hungary: 1980s-2010; Russia, Ukraine, Kazakhstan: 1990s-2010 SOURCE: TAX JUSTICE NETWORK

21 trillions dollars in escape towards fiscal paradises

shared by PascalGibert on Aug 23
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Infographic which shows us the largeness of the fiscal escape of capitals towards fiscal paradises...

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Economy
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