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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.
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Is it right to compare the offshore tax haven wealth with Countries GDP which is just its annual spending. A more appropriate comparison would be the tax haven wealth compared to the onshore total wealth of the Country….
Of course that would be a much bigger number and not make the point you want so instead we have this poor comparison…….
Look someone has £100k in wealth!….thats four times the average annual wage!…..Two very different things.
I am sure you are struggling to make a point here
But struggling is the operative word, I fear
Total global wealth is some $240 trillion. So 10% perhaps, by this estimate, might be in tax havens.
It does seem more appropriate to compare wealth with wealth, rather than wealth with income (which is what GDP is).
Especially since that estimate then agrees with the portion of household wealth that they say is in havens.
“A more appropriate comparison would be the tax haven wealth compared to the onshore total wealth of the Country – See more at: http://www.taxresearch.org.uk/Blog/2014/07/14/the-hidden-economy/#comment-area”
That maybe a bit difficult in respect of the UK, the entire island is a floating tax haven!
Still, if below manages to stagger into [secret] existence, there will be no need for tax havens!
http://rosalux.gr/sites/default/files/publications/ttip_web.pdf