Global rich hold $32 trillion in tax havens: Study

A new report by tax researchers estimates the amount of black money deposited by a 'global super-rich elite' in offshore accounts is as much as 13 trillion pounds ($20 trillion) — equivalent to the combined GDP of the US and Japan. The researchers have indicated the figure could reach 20 million pounds ($32 trillion). The report by Tax Justice Network released to The Observer is said to be the 'most detailed estimates yet of the size of the offshore economy'.

Read Full Story>>