Super-Rich Hold Up To $32 Trillion In Offshore Havens: Report

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Reuters | Posted: 07/22/2012 5:00 am
Updated: 07/22/2012 2:00 pm


Super Rich Offshore Havens

GEORGE TOWN, CAYMAN ISLANDS - Seven Mile Beach on 24 April, 2008 in Grand Cayman, Cayman Islands.

LONDON, July 22 (Reuters) - Rich individuals and their families have as much as $32 trillion of hidden financial assets in offshore tax havens, representing up to $280 billion in lost income tax revenues, according to research published on Sunday.

The study estimating the extent of global private financial wealth held in offshore accounts - excluding non-financial assets such as real estate, gold, yachts and racehorses - puts the sum at between $21 and $32 trillion.

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