Super-Rich Hide $3.55 Trillion Offshore, Oxfam Says

0:00Oxfam just dropped estimates showing the global super rich hiding up to three and high five five trillion dollars offshore from tax collectors. That's bigger than 3% of the world's entire GDP, folks. Total offshore wealth climbed to 13.25 trillion dollars by 2023, but the truly hidden slice shrank since automatic. Info sharing started in 2016. 80% of that shielded money, over $2.84 trillion likely sits with the top 0.1% of households matching the total wealth of the planet's poorest half. They timed this rapport for the 10th anniversary of the Panama Papers leak, pushing hard for a global wealth tax, closed loopholes, and getting poorer. Countries into the Info sharing system. In the UK, labor's bumped capital gains taxes and ditched non-dom perks, but Oxfam once a full wealth levy, while watchdogs say reformed council tax. First, and Parliament slamming tax officials for not even tracking billionaire numbers right,

1:02the push for fairness keeps building. Local news, powered by AI, this is Sydney News Today.