James Henry, The Tax Justice Network: "The Trouble with Tax Havens"
James S. Henry, lead researcher at the Tax Justice Network and former chief economist for McKinsey & Co, is visiting Copenhagen to discuss tax evasion based on his work in the Tax Justice Network which was launched in the British Houses of Parliament in March 2003. In his seminar he will present a summary of his recent research on odious finance, the size and growth of "hidden" offshore private wealth, MNC transfer pricing, tax haven dodging abuses, and global tax competition. He argues that the issue of offshore or ‘missing’ wealth is more pressing than ever and that the implication of this “missing” wealth on economic development and global inequality is large and weighs heavily on low and middle income countries in particular. In a report released in June 2012, titled The Price of Offshore Revisited (pdf 676 KB), the Tax Justice Network estimated unreported private financial wealth owned by wealthy individuals held in tax havens was at least $21 trillion at the end of 2010, a sum equivalent to the size of the United States and Japanese economies combined.