Tax Justice Blog

GFI: $410bn illicit flows in or out of Philippines from 1960-2011

February 4, 2014

  • Philippine Economy Loses US$132.9 Billion in Illicit Financial Outflows from Crime, Corruption, Tax Evasion over 52-Year Period; US$277.6 Billion Transferred Illegally into the Philippines
  • Smuggling through Trade Misinvoicing Cost Philippine Taxpayers at Least US$23 Billion in Customs Revenue since 1990
  • 25% of Value of All Goods Imported into Philippines Goes Unreported to Customs Officials

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