The Government of Ghana lost potential tax revenue of $3.86 billion between 2002 and 2011 through trade misinvoicing, an average of $368 million a year. A new report released on May 12. 2014 by Global Financial Integrity (GFI), a Washington DC-based research and advocacy organisation said through these fraudulent trade transactions, $14.39 billion in illicit capital flowed either into or out of Ghana due to trade misinvoicing, while under-invoicing of exports amounted to $5.1 billion and under-invoicing of imports came to $4.6 billion.
