The scale of the offshore problem is graphically shown by an article in the Washington Post.
If you don't see it before, now you'll see why this is an issue that has not just got to be solved, it has to be eliminated.
Richard Murphy on tax, accounting and political economy
Tax Research UK Blog is written by Richard Murphy unless otherwise stated and published by Tax Research LLP under a Creative Commons Attribution-NonCommercial 3.0 Unported License.
Design by Andy Moyle
The Washington Post article was authored by Tom Cardamone, Managing Director of the Global Financial Integrity Programme (www.gfip.org) at the Center for International Policy. GFIP was set up by Raymond Baker, a senior advisor to the Tax Justice Network. The Washington Post article states that Americans’ holdings in foreign tax havens had risen by 68% from 2003 to 2006. This suggests, anecdotally, that TJN’s 2005 figure of $255bn annually in lost taxes from wealthy individuals would be significantly larger if it were updated today.