DEVELOPING COUNTRIES LOSE MORE FROM TAX EVASION THAN THEY GAIN IN AID – GFI
December 1st, 2014
Tax evasion drained a record USD991.2 billion in illicit financial flows from developing economies in 2012 - facilitating crime and corruption, according to a new study by Global Financial Integrity (GFI), a Washington DC-based research and advisory organization. “To put this in perspective, the cumulative total of official development assistance to the developing countries in this report… was just USD809 billion,” said a GFI note.Its report, ‘Illicit Financial Flows from Developing Countries: 2003-2012’, says the total of illicit outflows from ...
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