The results of the study, which was conducted by international non-governmental organization Tax Justice Network Professor at Columbia University, former chief economist of the consulting company McKinsey&Co James Henry, show that from developing countries by the end of 2014 in the offshore was derived more than $12 trillion. Outflow from Russia amounted to $1.3 trillion. The results of analysis publishes The Guardian.
The study was carried out over the last 18 months, in his work Henry James used the official data of international organizations, in particular IMF and the UN.
From China (and Hong Kong and Macau) offshore by the end of 2014 were withdrawn $1.2 m, says the researcher. Malaysia, Thailand and Indonesia also have high positions in the list of countries with the highest outflow of capital to offshore.
In conversation with The Guardian, Henry said that his research showed that the motivation for the withdrawal of funds to offshore is not only tax evasion. According to him, criminals and corrupt officials also use offshore jurisdictions to hide their money.
The Professor described the inhabitants of the offshore jurisdictions as participants in the Cantina scene from “Star wars”, which contains a motley group of questionable characters intergalactic.
“It’s like a scene from “Star wars”: in one corner — defaulters, in the other arms dealers in third — corrupt. There are those who use offshore companies for money laundering or fraud,” — said Henry.
He said that as “tax havens” are selected not only
such exotic places like the Caymans, where you can effectively hide assets, but some States, such as Delaware, where foreign investors have the opportunity to open a company without a clear indication of the ultimate owner.
The study of Henry on the outflow of capital from developing countries — an update published in 2012 analysis, in which it was alleged that wealthy citizens around the world hiding from 21 to $32 trillion from taxation. In 2012 Henry the researcher claimed that since 1990, from Russia to offshore companies it was derived $798 billion.
The number of offshore zones since that time period has increased, according to the researcher, despite public pressure. On average, according to him, the outflow of capital to offshore from developing countries, starting in 2010, growing at 8% annually. For Russia and China the figure is 9%, possibly because of fears of economic and political instability, says Henry. “People are voting with their feet,” he concludes.