The article states that at least $2,85 billion could have been illegally shipped out of Zimbabwe through illicit financial flows in the period 2009 to 2012,according to preliminary results of a study. Sources of the funds may be legal, but their transfer may be illegal that is, tax evasion by individuals and companies. “Over the period 2009-2013, estimates of IFFs in the four sectors of mining, wildlife, fisheries and timber were estimated at $2,85 billion,”.Revelations of the loss is more than half of the $4 billion 2014 National Budget .Results of the report showed that mining led the way in Illicit Financial Llows due to gaps in the legislative framework governing the sector thereby creating opportunities for corruption and rent seeking behaviour.The results showed that there was information asymmetry between government and investors in the mining sector contributing to tax avoidance through underreporting of the quantity, quality and composition of minerals. Between 2009 and 2012, export over-invoicing totalled $2,79 billion, for which South Africa contributed 97,4% of the illicit flows,”. In the fisheries sector, the study said available data showed that there were huge discrepancies on the values of trade in fish and fish products between Zimbabwe and Zambia for the years 2011, 2012 and 2013. “Zeparu executive director Gibson Chigumira said IFFs thrived in countries with weak legal and institutional framework
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