Late last week the IMF’s senior representative in SA, Montfort Mlachila, observed that the country has the highest level of debt in its history, said this was “quite concerning” and concluded that the country’s debt trajectory is “not favourable and becoming uncomfortable”.
Actsa’s report follows on from one completed by Global Financial Integrity in 2017, which estimated that between 2010 and 2014 about R565bn, an average of R113bn per year, of revenue was lost to the SA state due to trade misinvoicing. The Alternative Information and Development Centre pointed out in a research report in 2018 that it is not only the SA Treasury that loses out. This is because IFFs also result in wage evasion as companies report lower profits, thus reducing pressure on wage claims by workers.
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