The Hidden Wealth of Nations: The Scourge of Tax Havens - Gabriel Zucman
How big is the wealth hidden in offshore tax havens? How much profits do multinational companies artificially shift to low-tax locales? How do tax havens work and are organized? In “The Hidden Wealth of Nations”, Gabriel Zucman try to provide some answers to these questions. In the past five years, the amount of wealth in tax havens has increased over 25%—there has never been as much money held offshore as there is today. This hidden wealth accounts for at least $7.6 trillion, equivalent to 8% of the global financial assets of households. But tax evasion and tax avoidance have solutions: they involve changing the incentives of tax havens, and creating financial transparency through a world financial registry.