This book is essential reading for understanding tax havens. Chapter 1, “A century of offshore finance,” describes how Switzerland became a major country for those trying to hide their wealth and escape taxes, how other centers of offshore finance grew up after WWII, most with their own special contribution to secrecy, and how the combination of these centers insures even greater secrecy. Chapter II, “The missing wealth of nations,” estimates this missing wealth at about 8 percent of the global financial wealth of households and lost taxes at $200 billion, providing insights into financial structure and specifics on revenue loss as the estimates are developed.
Trillions of dollars have sloshed into offshore tax havens. Here’s how to get it back David Scharfenberg Boston Globe January 20, 2018
See the page The Hidden Wealth of Nations for further book reviews and informative slide presentations by Zucman.
Cover of The Hidden Wealth of Nations Credit: University of Chicago Press