Pakistanis hold $19bn in offshore wealth, with half invested in Dubai's real estate.

A recent Global Tax Evasion report, produced by the EU Observatory, highlights that Pakistanis own approximately $19 billion in offshore wealth, with over half of it invested in Dubai's real estate. The report also calls for a minimum 2% income tax on the world's billionaires to increase their current income tax contributions.

According to the report, Pakistanis hold approximately $19.2 billion in offshore assets, of which $8 billion is in cash, shares, bonds, and investments, while an additional $11.2 billion is invested in real estate. This figure accounts for 3.6% of Pakistan's GDP in 2022.

The report notes that Asian tax havens hold the majority of these assets, with $4 billion, followed by $2 billion in European tax havens, $1 billion in Switzerland, and $910 million in American tax havens. This represents a decrease of $1.1 billion in...