MOSCOW: Around $1.3 trillion have been funnelled from Russia by the end of 2014, US research cited by British media claimed here the other day.
“All of these felons and kleptocrats are, in a way, essentially dependent on the rule of law when it comes to protecting their money,” James Henry, author of the research carried out for the Tax Justice Network, told The Guardian daily.
The figures, compiled and cross-checked from IMF and UN data over 18 months, are part of findings that over $12 trillion have been siphoned out of emerging economies that include China, Nigeria, Angola, as well as Brazil and Argentina.
Henry underlined that his research demonstrated that tax-dodging was not the sole motivation for using tax havens, and included criminals and kleptocrats keen to keep their wealth secret and their money safe.
