Africa is estimated to lose substantial resources through illicit financial flows (IFFs). These flows originate from several sources: revenues from illegal activities, tax avoidance, abusive profit-shifting, trade mis-invoicing, corruption, and others. IFFs undermine governance, hamper structural transformation and reduce the rate of taxpayer compliance, therefore affecting overall economic activity.

In June 2021, UNCTAD published Methodological Guidelines to Measure Tax and Commercial IFFs for pilot testing. Ghana is among the twelve pilot countries in Africa testing the proposed methodologies focusing specifically on Method#1 – Partner Country Method, and Method#2 – Price Filter Method. This workshop aims at getting the key national agencies together to continue the compilation of data; the generation of tables based on the methodological Guidelines; and finalise a road map for the continued implementation of compilation of IFFs in Ghana, among other objectives.

Kindly find more details in the published article from AllAfrica: Ghana: GSS to Quantify Illicit Financial Flows Lost to Ghana