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Abstract
Individuals’ use of tax havens has recently moved to the forefront of the agenda. The best estimates quantify individuals’ financial wealth in tax havens to around 10 percent of world GDP, although with marked heterogeneity among countries
and regions. There are also important differences within countries. The wealth in tax havens primarily belongs to the richest segments of society. Research from different countries yields varying evidence on how concentrated the tax haven wealth is, but all evidence points toward a strong upward wealth gradient: The richer you are, the more likely are you to use tax havens.
The research also shows that tax haven wealth is mainly not reported for tax purposes, at least not before the latest developments of global enforcement initiatives. The concealment of assets means that the wealth in tax haven has not been included in inequality statistics, and that wealth concentration is larger than previously believed.