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I have a geunine question for you @MForstater - given your reluctance to categorizing transfer mis-pricing as IFF, what about intra-firm financial methods like thin capialization and derivatives contracts? Should such activities be attempted meassured and accounted for as IFF?
Hi Arvinn, I think there will always be grey areas/ fuzzy edges to definitions -- the core concept of illicit financial flows is that the nature of the transaction is hidden or misreported to evade detection. You can do this with all kinds of transactions including TP...
Thanks. So your answer is in short (rudely paraphrased) «yes it could be, depending on the interpretation of the concept of IFF»?
Sort of. I guess the question is what for. Yes understand behaviours & measure financial impacts. But does the category 'IFF' make sense -- i.e. does it make sense to lump *this* in with money laundering, bribe paying, theft of public assets ?
eg set up a company that you own, hide the nature of the ownership, invoice yourself for fictitious services...would be fraud using TP and therefore illicit. Similarly frauds with interest or derivatives
But there are also legitimate disagreements, questions of interpretation, valuation on TP, interest, derivatives where the result might go one way or another but where the details of the transaction itself were not hidden from the revenue (e.g. the BHP/ATO say...)
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