Corruption costs $1 trillion in tax revenue globally: IMF
04 Apr 2019

Curbing corruption could generate about $1 trillion in tax revenues annually across the world, according to research from the International Monetary Fund.

In addition to increasing government revenue, fighting corruption can also reduce waste and even help to lift test scores among public school students, the IMF said. It also improves overall public trust in the government.

“Less corruption means lower revenue leakage and less waste in expenditures, and higher quality of public education and infrastructure,” said the report.

The pattern of lower corruption perception and higher revenues is maintained across developed, emerging and low-income countries, the data showed.

By Rodrigo Campos, Reuters, 4 April 2019

Read more at Reuters

Photo: Bumble Dee / Shutterstock.com

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One Response to “Corruption costs $1 trillion in tax revenue globally: IMF”
James Michaels

James Michaels April 7, 2019

This is hypocritical of the IMF. Why? The IMF ran programmes here in Seychelles from 2006 until 2016 and made a positive contribution in terms of Seychelles overcoming crippling debt through commitments to fiscal and budgetary reform….. BUT it was fully aware of the lack of transparency of the Seychelles offshore sector which was regularly used for tax evasion, corruption and large-scale money laundering by organised crime. It did NOTHING to confront this issue and one IMF official Paul Mattieu actively encouraged Ahmed Afif as the head civil servant in the Ministry of Finance, to allow Seychelles facilitate opaque offshore entities by weak legislation and cosmetic regulation. Just look at the 1MDB corruption case!! Good Star Inc, Aabar and dozens of other anonymous companies registered in Seychelles. An interesting question to ask is? Did Seychelles receive any money from this scandal? A hint for my journalistic colleagues: Check out the Leonardo Di Caprio foundation for an answer …. and then ask “Who REALLY got the funds ….?”

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