Tuesday , November 5 2024
Home / Mike Norman Economics / Governments sharing bank details uncover $11 trillion in offshore assets

Governments sharing bank details uncover $11 trillion in offshore assets

Summary:
(Reuters) - Tax authorities in nearly 100 countries saw 10 trillion euros (.2 trillion) in offshore assets come to light last year due to the automatic exchange of details for 84 million bank accounts, the OECD said on Tuesday. That marked a sharp increase from 2018 when tax authorities began sharing on an annual basis information like balances and transactions on offshore accounts, uncovering 5 trillion euros in assets previously hidden in 47 million accounts. Reuters  Governments sharing bank details uncover trillion in offshore assets

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Jodi Beggs writes Economists Do It With Models 1970-01-01 00:00:00

Mike Norman writes 24 per cent annual interest on time deposits: St Petersburg Travel Notes, installment three — Gilbert Doctorow

Lars Pålsson Syll writes Daniel Waldenströms rappakalja om ojämlikheten

Merijn T. Knibbe writes ´Fryslan boppe´. An in-depth inspirational analysis of work rewarded with the 2024 Riksbank prize in economic sciences.

(Reuters) - Tax authorities in nearly 100 countries saw 10 trillion euros ($11.2 trillion) in offshore assets come to light last year due to the automatic exchange of details for 84 million bank accounts, the OECD said on Tuesday.

That marked a sharp increase from 2018 when tax authorities began sharing on an annual basis information like balances and transactions on offshore accounts, uncovering 5 trillion euros in assets previously hidden in 47 million accounts.

Reuters 

Governments sharing bank details uncover $11 trillion in offshore assets
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *