There is up to US$ 32 trillion hidden in secret tax havens around the world...

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SouthAmerica

July 22, 2012

SouthAmerica: That means that Brazilians had an estimated amount between US$ 520 billion to US$ 1 trillion hidden in secret tax havens around the world by the end of 2010.

The study said: “O estudo também lista os 20 países onde há maior remessa de recursos para contas em paraísos fiscais.

No topo da lista está a China, com US$ 1,1 trilhão, seguida por Rússia, com US$ 798 bilhões, Coréia do Sil, com US$ 798 bilhões, e Brasil, com US$ 520 bilhões (ou mais de US$ 1 trilhão).”


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BBC Brasil – July 22, 2012
“Brasil é o 4º país do mundo em recursos escondidos em paraísos fiscais”

Em um momento em que muitas das principais economias do mundo enfrentam duras medidas de austeridade, um estudo mostra que alguns poucos cidadãos continuam se dando ao luxo de manter suas fortunas intactas, longe das garras afiadas das autoridades tributárias.

A elite global super-rica somou pelo menos US$ 21 trilhões escondidos em paraísos fiscais até o final de 2010, segundo o estudo The Price of Offshore Revisited, escrito por James Henry, ex-economista-chefe da consultoria McKinsey, e encomendado pela Tax Justice Network.

A valor é equivalente ao tamanho das economias dos Estados Unidos e Japão juntas.

Segundo Henry,o valor é conservador e poderia chegar a US$ 32 trilhões.

O estudo também lista os 20 países onde há maior remessa de recursos para contas em paraísos fiscais.

No topo da lista está a China, com US$ 1,1 trilhão, seguida por Rússia, com US$ 798 bilhões, Coréia do Sil, com US$ 798 bilhões, e Brasil, com US$ 520 bilhões (ou mais de US$ 1 trilhão).

PERDAS ENORMES

James Henry usou dados do Banco de Compensações Internacionais, do Fundo Monetário Internacional, do Banco Mundial e de governos nacionais.

Seu estudo trata apenas de riqueza financeira depositada em contas bancárias e de investimento, e não de outros bens, como imóveis e iates.

O relatório surge em meio à crescente preocupação pública e política sobre fraude e evasão fiscal.

Algumas autoridades, inclusive na Alemanha, têm até pago para obter informações sobre supostos sonegadores de impostos.

Henry disse que o movimento de dinheiro dos super-ricos em todo o mundo é feito por "facilitadores profissionais nas áreas de private banking e nas indústrias de contabilidade, jurídica e de investimento".

"As receitas fiscais perdidas são enormes. Grandes o suficiente para fazer uma diferença significativa nas finanças de muitos países".

"Por outro lado, esse estudo é realmente uma boa notícia. O mundo acaba localizado a uma pilha enorme de riqueza financeira que pode ser chamada a contribuir para a solução dos nossos mais prementes problemas mundiais", disse ele.

ESCOLHA POLÍTICA

John Christensen, diretor da Tax Justice Network, afirmou à BBC Brasil que as elites de países que hoje enfretam crises, mais especificamente a Grécia, têm uma longa tradição de envio de recursos para paraísos fiscais.

Segundo ele, os tributos que poderiam ser recolhidos sobre o dinheiro em paraísos fiscais seria "mais do que suficiente para manter os serviços públicos e erradicar a pobreza nestes países"

"Eu e outros economistas vimos dizendo que austeridade é uma questão de escolha. Há muitos anos, os governos sabem que há recursos em paraísos fiscais. Nós apenas quantificamos isso. Mas muitos governantes optam por não taxar estes recursos. Até porque eles próprios estão entre os que remetem para os paraísos fiscais".

Source:
http://www1.folha.uol.com.br/bbc/11...recursos-escondidos-em-paraisos-fiscais.shtml


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SouthAmerica: Here is the original source of the report:


Tax Hidden By Rich Worth Dollar 21 Trillion – July 22, 2012

<iframe width="560" height="315" src="http://www.youtube.com/embed/AWRyczygx6Q" frameborder="0" allowfullscreen></iframe>


A global super-rich elite had at least $21 trillion (£13tn) hidden in secret tax havens by the end of 2010, according to a major study.

The figure is equivalent to the size of the US and Japanese economies combined.

The Price of Offshore Revisited was written by James Henry, former chief economist at the consultancy McKinsey, and commissioned by the Tax Justice Network.

He said $21tn is a conservative figure and the true scale could be $32tn.

Mr Henry used data from the Bank of International Settlements, International Monetary Fund, World Bank, and national governments.

His study deals only with financial wealth, and not other assets such as property and yachts.

The report comes amid growing public and political concern about tax avoidance and evasion. Some authorities, including in Germany, have even paid for information on alleged tax evaders stolen from banks.


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Tax Justice Network (TJN) – July 22, 2012

“The Price of Offshore Revisited”

Revealed: global super-rich has at least $21trillion hidden in secret tax havens

At least $21 trillion of unreported private financial wealth was owned by wealthy individuals via tax havens at the end of 2010. This sum is equivalent to the size of the United States and Japanese economies combined.

There may be as much as $32 trillion of hidden financial assets held offshore by high net worth individuals (HNWIs), according to our report The Price of Offshore Revisited, which is thought to be the most detailed and rigorous study ever made of financial assets held in offshore financial centres and secrecy structures.

We consider these numbers to be conservative. This is only financial wealth and excludes a welter of real estate, yachts and other non-financial assets owned via offshore structures.

The research for the Tax Justice Network (TJN) by former McKinsey & Co Chief Economist James Henry comes amid growing concerns about an enormous and growing gulf between
rich and poor in countries around the globe.


Source:
“The Price of Offshore Revisited” - July 22, 2012
http://www.taxjustice.net/cms/upload/pdf/The_Price_of_Offshore_Revisited_Presser_120722.pdf


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BBC News – July 22, 2012
“Tax havens: Super-rich 'hiding' at least $21tn”

A global super-rich elite had at least $21 trillion (£13tn) hidden in secret tax havens by the end of 2010, according to a major study.

The figure is equivalent to the size of the US and Japanese economies combined.

“The Price of Offshore Revisited” was written by James Henry, a former chief economist at the consultancy McKinsey, for the Tax Justice Network.

Tax expert and UK government adviser John Whiting said he was sceptical that the amount hidden was so large.

Mr Whiting, director of the Office of Tax Simplification, said: "There clearly are some significant amounts hidden away, but if it really is that size what is being done with it all?"

Mr Henry said his $21tn is actually a conservative figure and the true scale could be $32tn. A trillion is 1,000 billion.

Mr Henry used data from the Bank of International Settlements, International Monetary Fund, World Bank, and national governments.

His study deals only with financial wealth deposited in bank and investment accounts, and not other assets such as property and yachts.

The report comes amid growing public and political concern about tax avoidance and evasion. Some authorities, including in Germany, have even paid for information on alleged tax evaders stolen from banks.

The group that commissioned the report, Tax Justice Network, campaigns against tax havens.

Mr Henry said that the super-rich move money around the globe through an "industrious bevy of professional enablers in private banking, legal, accounting and investment industries.

"The lost tax revenues implied by our estimates is huge. It is large enough to make a significant difference to the finances of many countries.

"From another angle, this study is really good news. The world has just located a huge pile of financial wealth that might be called upon to contribute to the solution of our most pressing global problems," he said.

'Huge black hole'

The report highlights the impact on the balance sheets of 139 developing countries of money held in tax havens that is put beyond the reach of local tax authorities.

Mr Henry estimates that since the 1970s, the richest citizens of these 139 countries had amassed $7.3tn to $9.3tn of "unrecorded offshore wealth" by 2010.

Private wealth held offshore represents "a huge black hole in the world economy," Mr Henry said.

Mr Whiting, though, urged caution. "I cannot disprove the figures at all, but they do seem staggering. If the suggestion is that such amounts are actively hidden and never accessed, that seems odd - not least in terms of what the tax authorities are doing. In fact, the US, UK and German authorities are doing a lot."

He also pointed out that if tax havens were stuffed with such sizeable amounts, "you would expect the havens to be more conspicuously wealthy than they are".

Other findings in Mr Henry's report include:

1) At the end of 2010, the 50 leading private banks alone collectively managed more than $12.1tn in cross-border invested assets for private clients

2) The three private banks handling the most assets offshore are UBS, Credit Suisse and Goldman Sachs

3) Less than 100,000 people worldwide own about $9.8tn of the wealth held offshore.

Mr Henry told the BBC that it was difficult to detail hidden assets in some individual countries, including the UK, because of restrictions on getting access to data.

A spokesman for the Treasury said great strides were being made in cracking down on people hiding assets.

He said that in 2011-12 HM Revenue & Customs' High Net Worth Unit secured £200m in additional tax through its compliance work with the very wealthy.

He said that agreements reached with Liechtenstein and Switzerland will bring in £3bn and between £4bn and £7bn respectively.

Source:
http://www.bbc.co.uk/news/business-18944097

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My guess is a vast majority of the hidden wealth is from third world rape. Not much of that money is from western industrialized nations. The crown prince of Saudi Arabia who recently died reportedly left $700 Billion to divide amongst his sons. There are 5000 more princes like him raping that country. Then add in the royal families of other oil states and global wealth numbers add up fast. Few months back there was some guy posting about $2 Trillion of Indian money in swiss accounts. Then there are the african despots. Son of the current president for life of guniea basau is raping his countries oil wealth and buying $100 million mansion in France. Raping the poor historically has been a very profitable business, just ask the British colonialists. The British elite must be peeved at these numbers, without Hitler ass raping them, all this $30 Trillion would be in their hands instead of in the hands of corrupt third world despots.
 
July 22, 2012

SouthAmerica: How do we reconcile the following information?


1) Tax Hidden By Rich Worth Dollar 21 Trillion – July 22, 2012

A global super-rich elite had at least US$21 trillion (and up to US$ 32 trillion) hidden in secret tax havens by the end of 2010, according to a major study.

http://youtu.be/AWRyczygx6Q



2) The gross world product (GWP) is the combined “gross national product” of all the countries in the world. This also equals the total global “gross domestic product” (GDP).

In 2011, the GWP totaled approximately US$78.95 trillion in terms of purchasing power parity (PPP), while the per capita GWP was approximately US$11,800. In nominal terms, the total 2011 GWP was around US$70.16 trillion.

http://en.wikipedia.org/wiki/Gross_world_product


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A global super-rich elite had at least US$21 trillion (and up to US$ 32 trillion) hidden in secret tax havens

vs.

In nominal terms, the total 2011 GWP was around US$70.16 trillion.


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July 22, 2012

SouthAmerica: The report said: “The three private banks handling the most assets offshore on behalf of the global super&#8208;rich are UBS, Credit Suisse and Goldman Sachs.”

As usual “Goldman Sachs the Pillage People” and and their network of scoundrels and thieves are also involved on this illegal money schemes in a big way. (Which involves also money laundering related to criminal activities).

The new report also said:

“The Price of Offshore Revisited” - July 22, 2012
http://www.taxjustice.net/cms/upload/pdf/The_Price_of_Offshore_Revisited_Presser_120722.pdf

...Other main findings of this wide&#8208;ranging research include:

• Our analysis finds that at the end of 2010 the Top 50 private banks alone collectively managed more than $12.1 trillion in cross-border invested assets for private clients, including their trusts and foundations. This is up from $5.4 trillion in 2005, representing an average annual growth rate of more than 16%.

• The three private banks handling the most assets offshore on behalf of the global super&#8208;rich are UBS, Credit Suisse and Goldman Sachs. The top ten banks alone commanded over half the top fifty's asset total - an increased share since 2005.

• The number of the global super&#8208;rich who have amassed a $21 trillion offshore fortune is
fewer than 10 million people. Of these, less than 100,000 people worldwide own $9.8 trillion of wealth held offshore.


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Quote from SouthAmerica:

“The three private banks handling the most assets offshore on behalf of the global super&#8208;rich are UBS, Credit Suisse and Goldman Sachs.”
More...

Q: Why do you rob banks?.
A: Because that's where the money is!. Willie Sutton.
 
Quote from SamGold:

Q: Why do you rob banks?.
A: Because that's where the money is!. Willie Sutton.
More...

Reply to SamGold

The problem is that the people are not robbing the major banks....The major banks such as "Goldman Sachs the Pillage People" are stealing and looting every way they can from their customers.


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When I first read the title, I was sure this was a bearice thread.

Question:

If there is up to $32 trillion dollars of hidden unreported money, how do they know about it, if its hidden?
 
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