UNDERGROUND ECONOMY AND THE TAX EVASION IN ROMANIA
Cristian Nicolae Stanica ()
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Cristian Nicolae Stanica: Institute of Economic Forecast, Romanian Academy, Bucharest
Internal Auditing and Risk Management, 2014, vol. 34, issue 1, 235-240
Abstract:
The paper present the features of the underground economy in Romania and the factors’ contribution to its formation: undeclared labour of the formal sector (enterprises), value added tax evasion, and the under-reported incomes of the small entrepreneurs’ sector (family associations and self-employed). The tax evasion for the main budget revenues is estimated starting from the NIS - based valuations of the underground economy. Annual reduction of the undeclared labour with 10% - 15% could provide the necessary budget revenue for the implementation of fiscal relaxation measures, such as reducing the flat tax or the employers' security contribution.
Keywords: underground economy; undeclared labour; tax evasion; degree of compliance (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:ath:journl:v:34:y:2014:i:1:p:235-240
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