Transcript Task Force on Financial Integrity and Economic Development

Compared to
(in Billions of USD)
Outflows
$1056
$859
Current Estimate
INflows
$100 $110
1990s & 2000s
TAX HAVENS
OFFSHORE SECRECY JURISDICTIONS
DISGUISED CORPORATIONS
FLEE CLAUSES
ANONYMOUS TRUSTS
FAKE FOUNDATIONS
FALSE DOCUMENTATION
FALSIFIED PRICING
LOOPHOLES LEFT IN LAWS OF WESTERN COUNTRIES
$60
$60
$50
$50
$40.7 Trillion
$40
$30
84.9%
$20
$55.6 Trillion
$40
66.8%
$30
$20
18.2%
$10
$0
3.5%
0.8%
9.1%
1.7%
GDP at Market Exchange
Rates
$10
$0
8.2%
2.2%
4.6%
GDP at Purchasing Power
Parity
Source: Calculations based on World Bank data from World Development Indicators 2007.
Compared to
(in millions of USD)
Outflows
$169,000
Current Estimate: 2008
INflows
$44,000
GER Goods (A) (IMF DOTS)
Services Factor
GER Services (B=A*factor)
37,071
0.25
9,147
GER G&S (A+B)
46,219
Same-invoice faking (C)
46,219
Total (A+B+C)
92,437
CED (D) (WB Residual)
Total (A+B+C+D)
52,906
145,343
Missing data (E)
24,089
Grand Total (A+B+C+D+E)
169,433
1) Beneficial ownership
2) Country-by-country reporting
3) Automatic exchange of tax information
4) Curtailment of trade mispricing
5) Harmonization of predicate offenses
underlying anti-money laundering charges.