đź”’ $10bn lost annually as illicit financial flows ride through South Africa – Rowden
Global Financial Integrity has indicated that $1 of every $5 that is sent out of South Africa in trade, is actually done illicitly.
Illicit financial flows
Tax evaders suck SA’s lifeblood, put Guptas to shame – global survey
In a new report, Global Financial Integrity (GFI) estimates South Africa lost $37 billion – $7.4 billion a year – in potential government revenue due to trade misinvoicing between 2010 and 2014.
#Budget2018: Curbing tax avoidance and clamping down on corporate covenants
The 2018 Budget Speech confirmed South Africa’s commitment to ending tax avoidance and its impact on economies and societies worldwide.
Analysing the billions that SA loses via illicit financial flows
Despite Government’s preventative measures, South Africa continues to lose billions of Rands due to illicit financial flows. Namhla Mniki-Mangaliso, the Director of African Monitor joined Alec Hogg on CNBC Africa’s Power Lunch to discuss the magnitude of the problem.