Global Financial Integrity (GFI) has revisited South Africa to look at how much the country lost in tax revenues in 2016 due to misinvoicing, and has apparently concluded that revenue losses due to misinvoicing amount to less than an earlier GFI estimate.

In its latest estimate, the non-profit organisation that researches and lobbies for action against illicit financial flows (IFFs) estimates that South Africa lost approximately US$3.4 billion in tax revenues to trade misinvoicing, or about 4 per cent of total tax revenues collected in South Africa in 2016.

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