Panel discussion: 'Uncovering the offshore world: how researchers investigate shell companies, international wealth managers and transnational informal economies'
According to the Tax Justice Network, up to $32 trillion in hidden assets are held in offshore tax havens.
The increasing outflow of money into the offshore world starves developing countries of government revenues, enables kleptocrats to hide their illicitly acquired wealth, and allows global multinational companies to lawfully avoid paying hundreds of billions in taxes. Until recently, we lacked comprehensive and detailed academic studies for understanding the scope and inner workings of the offshore system.
The increasing outflow of money into the offshore world starves developing countries of government revenues, enables kleptocrats to hide their illicitly acquired wealth, and allows global multinational companies to lawfully avoid paying hundreds of billions in taxes. Until recently, we lacked comprehensive and detailed academic studies for understanding the scope and inner workings of the offshore system.