Seminar: Prisen for skattely – nye tal for ‘de manglende’ formuer

TIME: Wednesday, 6 February, 15 – 17

VENUE: Danish Institute for International Studies, Main Auditorium, Strandgade 71, ground floor, Christianshavn, 1401 Copenhagen K.

TIME: Wednesday, 6 February, 15 – 17

VENUE: Danish Institute for International Studies, Main Auditorium, Strandgade 71, ground floor, Christianshavn, 1401 Copenhagen K.

In the wake of the financial crisis, the unregulated and untaxable assets held by the world’s wealthy in offshore financial centres, were increasingly seen as undermining financial stability as well as fiscal sustainability and economic development.

In April 2009, the G20 hence pledged to initiate a practice of blacklisting offshore tax shelters, so that coordinated action could collectively be taken to bring all this wealth back ‘onshore’. Critics argue, however, that even today, several years later, nothing much has happened in terms of effective blacklisting and other regulatory action.

Did the G20 overreact in 2009? Has the issue slipped off the global agenda simply because experts came to realize that the problem wasn’t as severe as initially presumed by G20 leaders?

James S. Henry, lead researcher at the Tax Justice Network and former chief economist for McKinsey & Co, argues that the issue of offshore or ‘missing’ wealth is more pressing than ever and that the implication of this “missing” wealth on economic development and global inequality is large and weights heavily on low and middle income countries in particular. In a report released in June 2012, titled The Price of Offshore Revisited, the Tax Justice Network estimated unreported private financial wealth owned by wealthy individuals held in tax havens was at least $21 trillion at the end of 2010, a sum equivalent to the size of the United States and Japanese economies combined.

DIIS are delighted that James S. Henry has accepted the invitation to present the findings of his report. Further, Niels Johannesen, Assistant Professor at the Department of Economics, University of Copenhagen, has accepted to intervene as discussant.

Speakers:
– James S. Henry, Tax Justice Network
– Niels Johannesen, Associate Professor, University of Copenhagen
– Jakob Vestergaard, Senior Researcher, DIIS

Programme:

15.00-15.10: Introduction; Jakob Vestergaard, Senior Researcher, DIIS

15.10-15.50: The Price of Offshore Revisited. New Estimates for ‘Missing’ Global Private Wealth James S. Henry, Tax Justice Network

15.50-16.05: Coffee Break

16.05-16.20: Discussant; Niels Johannesen, Associate Professor, University of Copenhagen

16.20-17.00: Open Discussion

Chair: Jakob Vestergaard, Senior Researcher, DIIS

The seminar will be held in English.

Participation is free of charge, but registration is required. Read more about the seminar and use the online registration form on the website no later than Tuesday, 5 February at 12 noon.

Please await confirmation by e-mail from DIIS for participation.