Trade misinvoicing cost India $13 billion in revenue
Image Credit: shortpedia
Due to trade misinvoicing, the Indian government has witnessed approximately 13 billion dollars worth revenue losses in 2016. This is 5.5% of the total revenue collection of that year. The data was revealed in a study by the think-tank Global Financial Integrity. Out of the 13 billion dollars, 4 billion dollars lost due to export misinvoicing and other 4 billion dollars of loss had happened due to import misinvoicing.