By Robert Johnson
LONDON (IDN) – An estimated $21 to $32 trillion of private financial wealth is located, untaxed or lightly taxed, in secrecy jurisdictions around the world as the Financial Secrecy Index names tax havens, which play a key role in facilitating the illicit flow of money across borders.
"Corruption, bribery, theft and tax evasion cost some $1.26 trillion for developing countries per year; this amount of money could be used to lift those who are living on less than $1.25 a day above $1.25 for at least six years," according to the United Nations which aim to mend this unacceptable situation as part of the Sustainable Development Goal 16.