Kuwait occupies the top position among the countries where wealthy people hide their assets in tax exempted nations worldwide, reports Al-Kuwaitiya daily.
As per recent report by a British research firm, the world’s richest people hide most of their assets in countries that are free from taxation and the rate of hidden wealth ranges between $21 trillion and $32 trillion, which is more than the overall gross domestic products of Japan and United States of America valued at $ 21 trillion.
A British website recently revealed the list of names of the countries in question and the amount of wealth hidden in other nations, placing China on top of the list. The report stated that China has squirreled away $ 189 trillion from its borders, followed by Russia with $ 798 billion, then Korea and Brazil. Kuwait occupies the fifth position with $ 496 billion, while Saudi Arabia is positioned 10th with $ 308 billion of hidden assets.
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