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The trillion-dollar prize: Plugging government revenue leaks with advanced analytics

Few fiscal opportunities are bigger than reducing revenue leakages from tax and payment abuse. Now, new sources of data and new analytics tools are giving governments the upper hand.

Rare is the government today whose fiscal challenges don’t handcuff leaders seeking to provide for the future through investments in infrastructure, education, and healthcare. Often the difference between funded and deferred policy priorities comes down to the perennial and seemingly intractable challenge of revenue lost to tax noncompliance and improper government payments.

McKinsey analysis suggests that close to 20 percent of government revenues worldwide, or about $5 trillion, go missing each year, either in dollars owed but never paid or in outbound payments gone awry. In this era of growing demands for government services and pressing budget challenges worldwide, few fiscal opportunities loom larger than reducing these leakages

Source: McKinsey

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