‘Offshore Assets’ Tax Can End World Poverty Three Times Over

January 22, 2013 6:10 am

We started reading the report since we read something like ‘annual income of world’s 100 richest people enough to end world poverty four times over’ – but when we read the report, we spotted something else that we found very interesting: a lot of assets globally are ‘parked’ in offshore locations – some 32 trillion dollars or so. From the report:

“If these taxes assets were taxed according to capital gains taxes in different countries, they could yield at least $189 billion in additional tax revenues”

That would be enough to end world poverty three times over. That is right, just closing this one tax evasion loophole (offshore assets) can be so powerful.

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