The Bahamas has lost as much as $1.2 billion in illicit outflows over an eight-year period to one particular form of tax evasion, according to a Global Financial Integrity (GFI) analysis.<\/p>\n
Corruption in the form of trade mispricing was a driver of that money lost, according to GFI’s latest report on “Illicit Financial Flows (IFF) from Developing Countries: 2000-2009”, which looked at the cost of crime, corruption, and trade mispricing on developing countries.<\/p>\n
The Bahamas is ranked 97 on a global list for largest average normalized IFF estimates from 2000 to 2008 and 112 in a country ranking of non-normalized IFFs during the same period.<\/p>\n
The report has calculated the dollar amount estimated on the outflow from trade mispricing from The Bahamas in 2008 alone to the tune of $240 million \u2014 a steady progress from the $57 million recorded in 2000, according to the report. In total, the country lost $1.14 billion in non-normalized IFF over the period, with an average lost of $127 million calculated per year. Around $1.09 billion is calculated for normalized IFFs.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Bahamas has lost as much as $1.2 billion in illicit outflows over an eight-year period to one particular form of tax evasion, according to a Global Financial Integrity (GFI) analysis.<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[12],"tags":[87,93,31,106,98,40,49],"class_list":["post-5824","post","type-post","status-publish","format-standard","hentry","category-headlines","tag-banking","tag-corruption","tag-crime","tag-customs","tag-financial","tag-government","tag-law"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/5824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=5824"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/5824\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=5824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=5824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=5824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}