I found this through a Molly Ivins piece
, but thought the info important enough to link to directly. The Price of Offshore
is in pdf format so you need Adobe Reader to see it. Or here is a Google HTML version
. It's only two pages long but here are the summary points:
Our research suggests that:
- approximately US$11.5 trillion of assets are held offshore by high net-worth individuals;
- the annual income that these assets might earn amounts to US$860 billion annually;
- the tax not paid as a result of these funds being held offshore might exceed US$255 billion each year.