The study found outflow from Russia in offshore $ 1.3 trillion – RBC

Photo: Vladimir Mashatin / TASS

On According to a study conducted by Columbia University professor James Henry from the developing countries, more than $ 12 trillion has been withdrawn, including Russia and China, to the end of 2014. Of these, $ 1.3 trillion – from Russia

The study, which is conducted for the international NGO Tax Justice Network, Professor at Columbia University, a former economist at consulting firm McKinsey & amp; Co, James Henry, show that of the developing countries to end of 2014, more than $ 12 trillion has been displayed in the offshore. The outflow from Russia amounted to $ 1.3 trillion. Analysis Results publishes The Guardian

The study was conducted during the last 18 months, in his work, James Henry used the official data of international organizations, in particular -. The IMF and the United Nations

From China (a. and Hong Kong and Macao) in the offshore to the end of 2014 were withdrawn $ 1.2, according to the researcher. Malaysia, Thailand and Indonesia also rank high in the list of countries with the largest capital flight to offshore.

In a conversation with The Guardian, Henry said his research showed that the motivation for the withdrawal of funds in the offshore is not only tax avoidance. According to him, criminals and corrupt officials are also using offshore companies to hide their money.

The professor described the inhabitants of the offshore jurisdictions as participants in the scene at the bar from the movie “Star Wars”, which brought together a motley group of shady intergalactic characters.

«This is from the” Star wars scenes “: in one corner – defaulters in the other – arms dealers, in the 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 the capital, but also some States, such as Delaware, where foreign investors have the opportunity to open a company without a clear indication of the final owner.

The study of Henry the outflow of capital from developing countries – update published in 2012, the analysis, which was asserted that wealthy citizens around the world to hide 21 to $ 32 trillion from taxation. In 2012, Henry researcher claimed that since 1990 from Russia to offshore companies were withdrawn $ 798 billion.

The number of offshore zones in the past from the time period has increased, according to the researcher, in spite of public pressure. On average, according to him, the outflow of capital in the offshore companies from developing countries, grew by 8% from 2010 onwards each year. the figure for Russia and China is 9%, possibly because of fears of economic and political instability, says Henry. “People are voting with their feet”, – he concludes.