by Summary:
High rates of tax evasion are not necessarily a consequence of high tax rates. In an NBER working paper, Annette Alstadsæter, Niels Johannesen, and Gabriel Zucman provide estimates of countries’ wealth holdings in “tax havens.” Based on BIS statistics the authors find that: Wealth on the order of 10% of global GDP is held offshore. In Scandinavia, the number is much smaller. In continental Europe, it equals roughly 15%. In some Gulf and Latin American countries, almost 60%. In Russia, the richest citizens hold the majority of their wealth abroad.
Topics:
Dirk Niepelt considers the following as important: Bank for International Settlements, inequality, Notes, Russia, Scandinavia, Tax, Tax evasion, Wealth inequality
This could be interesting, too:
High rates of tax evasion are not necessarily a consequence of high tax rates. In an NBER working paper, Annette Alstadsæter, Niels Johannesen, and Gabriel Zucman provide estimates of countries’ wealth holdings in “tax havens.” Based on BIS statistics the authors find that: Wealth on the order of 10% of global GDP is held offshore. In Scandinavia, the number is much smaller. In continental Europe, it equals roughly 15%. In some Gulf and Latin American countries, almost 60%. In Russia, the richest citizens hold the majority of their wealth abroad.
Topics:
Dirk Niepelt considers the following as important: Bank for International Settlements, inequality, Notes, Russia, Scandinavia, Tax, Tax evasion, Wealth inequality
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High rates of tax evasion are not necessarily a consequence of high tax rates. In an NBER working paper, Annette Alstadsæter, Niels Johannesen, and Gabriel Zucman provide estimates of countries’ wealth holdings in “tax havens.” Based on BIS statistics the authors find that:
- Wealth on the order of 10% of global GDP is held offshore.
- In Scandinavia, the number is much smaller.
- In continental Europe, it equals roughly 15%.
- In some Gulf and Latin American countries, almost 60%.
- In Russia, the richest citizens hold the majority of their wealth abroad.