Offshore tax avoidance or evasion is nearly the exclusive preserve of the global elite. Eighty percent of all offshore wealth belongs to the top 0.1% of earners worldwide, while 50% belongs to the even smaller group of the top 0.01%. We wonder: Which set of countries has more than half of its GDP in offshore tax havens?
A. Russia, China and India
B. United States and Mexico
C. Spain, Italy, France, Germany and the UK
D. United Arab Emirates, Venezuela and Saudi Arabia
Continue reading