Offshore wealth reaches $8.5tn despite pressure on tax havens

The wealth held abroad in offshore financial jurisdictions has grown by 6.1 percent in the last year despite efforts by governments to curb tax evasion. 

 
The figures have soared to a total of $8.5 trillion, according to Boston Consulting Group.

Meanwhile UK based charity Oxfam, has recently released a report saying that individuals are holding some $18.47 trillion in tax havens around the world.

According to the organization’s estimates, tax lost in tax havens is enough to end global poverty twice over.