FINANCE - $158 billion in Turkish funds in offshore accounts

www.todayszaman.com - The amount of money stored in offshore bank accounts by Turkey's wealthiest individuals and businesses is worth $158 billion, says a report by the UK-based financial transparency group Tax Justice Network.

The report, prepared by former chief economist at consulting firm McKinsey and tax haven expert James Henry, tracked the growth in offshore funds around the world and estimates that the $158 billion in non-taxable Turkish funds is part of the staggering $21 trillion to $32 trillion which was held globally by the world's wealthiest individuals and corporations in tax havens at the end of 2010.  (source)