Unreported assets worth $6–7 trillion, Italian researchers say
“Areas of opacity” remain, despite anti-evasion initiatives, authors say
A working paper published by the Bank of Italy attempts to improve the methods used to estimate tax evasion and undeclared assets.
In What do external statistics tell us about undeclared assets held abroad and tax evasion? Valeria Pellegrini, Alessandra Sanelli and Enrico Tosti estimate a number of key components of undeclared assets held abroad.
Using data from the International Monetary Fund and the Bank for International Settlements, they assess the level of unreported portfolio investments
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