Thursday 13 December 2018
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allafrica.com - 23 days ago

Africa: Trade Misinvoicing Costs South Africa U.S.$7.4 Billion in Tax a Year

[Daily Maverick] While SARS is scrambling to meet collection targets, a new report estimates the country lost $37-billion in revenue to trade misinvoicing in five years. Trade misinvoicing is thought to be the largest component of illicit financial flows, draining developing countries of much-needed finances.

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