Collectors ran into the law
The bill on collection in Russia is subject to change. This initiative was made by the Prosecutor General, who has to process a shaft of complaints from citizens about illegal…

Continue reading →

Google is ahead of the rest ...
Google is ahead of the rest ... Google is breaking records. According to the company's quarterly report, for the first time since its inception, its revenue exceeded $ 50 billion.…

Continue reading →

It's time to hold the horses on the lending market
The Ministry of Finance and the Central Bank of the Russian Federation consider it necessary to contain the rapid growth of consumer lending. The financial department, according to Deputy Minister…

Continue reading →

Private sector hides money offshore

From 21 to 32 trillion dollars are hiding from taxation in various regions of the world and bank accounts. In total, about 10 million people use offshore accounts to hide funds. These figures appear in a report by James Henry, a former economist at McKinsey & Co consulting company, prepared for the Tax Justice Network.

Of the total amount of $ 32 trillion, about half are for 100 thousand people. Tax fees of $ 32 trillion could amount to up to $ 280 billion annually. When evaluating tax evasion, James Henry only considered financial assets. Real estate, luxury goods, yachts, etc. were not taken into account, RBC reports citing an economist report.

According to the report, the official data of the IMF, the World Bank, the UN and the central banks of various countries of the world were used for calculations. “From an economic point of view, the private sector is a black hole,” the report concludes. In addition, it is emphasized that a global banking conglomerate, represented by such structures as HSBC, Citigroup, Bank of America, UBS, Credit Suisse, is involved in fund-raising operations.

Meanwhile, experts doubt that the amount of funds in offshore accounts can be accounted for. “It is quite difficult to calculate an offshore account – as a rule, it goes through redirection from several accounts that are not related to each other and to the parent company. The fact that major global banking brands facilitate such transfers and transfers is not new at all – banks are usually interested in serious corporate and private clients, simply in a large structure it is much easier to hide such accounts than in a small bank. You can “catch” an offshore account if you carefully monitor the company’s communications and its contacts, while no easier way has been invented – otherwise there would not have been such an impressive amount of funds withdrawn into the shadows, “said Andrei Voronin, an analyst at FIBO Group.

“Most likely, the numbers on offshore operations are a PR before the start of the next“ anti-laundering ”campaign that Western countries are about to launch. Otherwise, it is completely unclear how to reliably calculate the amounts concealed from taxation through offshore companies and accounts. After all, these jurisdictions are and they were created so that it was impossible to find out, calculate and control the movement of money, “said Alexey Vyazovsky, an analyst at Kalita-Finance.

“The struggle with the offshore zones themselves is a rather slippery topic, because usually many such“ fighters ”themselves are interested in the existence of such free zones,” adds Andrei Voronin.

The report also contains data on Russia. Since the beginning of the 90s, $ 798 billion was transferred to offshore from our country, Henry mysteriously calculated. Moreover, a certain part of the funds is returned to the country already under the guise of foreign investment, as stated in the study. So the presented figure is methodologically faulty.

Nevertheless, figures in various sources indicate a lack of consensus in the arithmetic assessment of this phenomenon. From the beginning of the 90s to the beginning of the 2000s, according to various sources, it took from $ 250 billion to $ 1 trillion from the country. According to the statistics of the Central Bank of the Russian Federation, the outflow of capital only from the private non-financial sector and only by some identified and accounted for ways of withdrawing money exceeded $ 370 billion in 1992-2009.

From Ukraine, according to Henry, since the beginning of the 1990s, $ 167 billion went to offshore accounts, and $ 138 billion from Kazakhstan.

The situation with China is even more interesting. It turns out that China’s socialist economy has been capitalist for 40 years. At least, statistics on the withdrawal of funds from the PRC have been maintained for over 40 years. And during this time, $ 1.189 trillion has left the country with the current strict currency restrictions on the export of capital.

South Korea ranks third in the outflow of capital to offshore accounts with $ 779 billion. Next came other commodity powers: Brazil ($ 520 billion), Kuwait ($ 496 billion), Mexico ($ 417 billion), Venezuela ($ 406 billion) and Argentina ($ 399 billion). )

According to the Central Bank of the Russian Federation, in 2011, the overall outflow of capital from Russia exceeded its inflow by $ 84.2 billion, which is 2.5 times more than a year earlier. In the first five months of the year, the outflow amounted to $ 46.5 billion, the Chairman of the Central Bank Sergey Ignatiev informed earlier.

However, the outflow rate is reduced. In January, they amounted to $ 15.2 billion, in February – $ 11.3 billion, in March – $ 7 billion, in April – $ 7.3 billion, and in May about $ 6 billion. In six months, the outflow reached $ 43 billion. In June of this year capital outflow in Russia was replaced by an inflow, $ 5 billion returned to the country’s economy in a month.

Do not count money - and you will be rich!
There are many magical rituals for money. But sometimes in everyday life we ​​perform the most ordinary, it would seem, actions that attract financial welfare or, on the contrary, make…

...

Bookkeeping for beginners
What are the principles of the organization’s accounting? How to properly build her work? Probably, any aspiring businessman who decided to open his own company, but who did not have…

...

60 quotes overheard on Wall Street
The most accurate statements, overheard in the elevator of the most famous investment bank, from people who own almost all the money in the world There is a person on…

...

How to make money on a rover
Where to start your career as a famous person, or how to earn your first working money or “build” yourself a decent side income? Make someone paint a fence instead…

...