Incentives to operate in the formal economy

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Chapter 9 in A Modern Guide to the Informal Economy, 2023, pp 207-239 from Edward Elgar Publishing

Abstract: This chapter evaluates the effectiveness of initiatives to make operating in the formal economy easier and more beneficial. On the one hand, supply-side formalisation incentives are evaluated to make it easier and/or more beneficial for businesses and workers to operate in the formal economy, namely: simplification of the formal regulations; advisory inspections; societal amnesties; voluntary disclosure; direct tax and social security incentives; targeted indirect tax incentives; formalisation support to start-ups; formalisation support and advice to existing informal enterprises; help with record-keeping, and compliance lists. On the other hand, demand-side formalisation incentives targeting customers are evaluated, namely direct tax incentives; service vouchers; indirect tax incentives; incentivising electronic payments and deterring cash payments; incentives for customers to request receipts, and social labelling initiatives.

Keywords: Business and Management; Economics and Finance; Sociology and Social Policy (search for similar items in EconPapers)
Date: 2023
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