Overinvoicing

(redirected from Over-Invoicing)

Overinvoicing

1. An invoice with a price listed that is higher than a company actually intends to charge a client.

2. The act or practice of billing more hours than one actually works. For example, a lawyer may meet with a client for 10 minutes and bill for half an hour. Overinvoicing is difficult to track, but common in many white collar professions.
References in periodicals archive ?
Another option is over-invoicing for several payments.
But the strong export figure led some economists to wonder whether companies had returned to over-invoicing their exports to camouflage capital flows, a phenomenon seen earlier this year.
Year-over-year growth figures in exports overstate gains by about 1 to 2 percentage points because of last year's over-invoicing, RBS's Kuijs said.
Illegal outflow of capital is often channelled through remittances transferred by such means as Hundi/Hawala system, export under-invoicing, import over-invoicing, and smuggling of precious metals, antiques, etc.
Launched three weeks ago, the criminal investigation relates to suspected over-invoicing for equipment purchased by the Limassol Licensed Porters Association (LLPA), as well as to totally bogus invoices.
The worsening of China's over-invoicing problem may be indicative of an ever-increasing incentive for capital to leave the country if the floodgate were opened.
They were of the opinion in their recommendations that reforms were needed to address over-invoicing, misdeclaration and Afghan Transit Trade (ATT) leakage issues.
In a statement, Manhattan District Attorney Cyrus Vance said: "they used an over-invoicing scheme to steal from their.
The alleged bribes were frequently made by over-invoicing customers and paying the excess back to top government officials or their proxies, according to the charges against Daimler.
UNDER- and over-invoicing is an effective means of money laundering that is proving to be a complex nut to crack for the agencies charged with tracking down fraud and its proceeds.
Companies try over-invoicing, and people avoid paying taxes thinking they won't get caught.
Companies try over-invoicing and people avoid paying taxes, thinking they won't get caught.