GLOBAL TAX EVASION - REPORT 2024 - Foreword by Joseph Stiglitz Coordinated by

This work leverages the availability of new data on the activities of multinational companies (such as country-by-country reports) and the offshore wealth of households (from the automatic exchange of bank information) created by the policy initiatives of the last decade. [...] Even so, the revenue potential is large, due to the concentration of wealth at the top of the distribution and the low current tax rates of billionaires (Table 2). [...] To analyze the economic consequences of international agreements and formulate proposal, it is vital to take the interest of the billions of inhabitants of the Global South into account and put them at the center of the analysis. [...] Structured around four global maps, this new database provides statistical information on some of the key issues covered by this report: the evolution of effective tax rates on labor and capital, the scale and cost of multinational corporations’ profit shifting to tax havens, the size of offshore financial assets owned by households, and the magnitude of cross-border real estate in a number of glo. [...] In this report and in the Atlas of the Offshore World, we build on this methodology to update the estimates first developed by Zucman for the period 2001-2008 annually all the way to 2022.7 According to our results, $12 trillion — the equivalent of 12% of world GDP — was held offshore by households at the end of 2022.