Shadow economy

International Internet Magazine. Baltic States news & analytics Wednesday, 10.02.2016, 22:03

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Judge: Lithuanian Labor Party's fraudulent bookkeeping did exist

Judge: Lithuanian Labor Party's fraudulent bookkeeping did exist

01.02.2016

The Court of Appeal of Lithuania's Judge Violeta Razinskaite says the Labor Party's fraudulent bookkeeping did exist, informs LETA/BNS.

Keyword tags: Financial Services, Legislation, Lithuania, Shadow economy



Smuggled cigarettes account for 19.6% of Lithuanian market

Smuggled cigarettes account for 19.6% of Lithuanian market

22.12.2015

The market share of illegal tobacco products in Lithuania fell significantly this year as a result of lengthy and consistent anti-smuggling efforts, informs LETA/BNS, according to an empty pack survey carried out by Nielsen.

Maciulis: decline in smuggling is Lithuania's success story in 2015

Maciulis: decline in smuggling is Lithuania's success story in 2015

10.11.2015

A decline in fuel and cigarette smuggling is Lithuania's success story of the year 2015, Nerijus Maciulis, Swedbank's chief economist, said on November 10th, cites LETA/BNS.


Fight against "under-the-table" wages added EUR 3.87 mln to tax revenue in Latvia

Fight against "under-the-table" wages added EUR 3.87 mln to tax revenue in Latvia

30.10.2015

In implementing prevention and control measures against "under-the-table" wages, the State Revenue Service (SRS) in Latvia increased the revenue of state social security payments and personal income tax by EUR 3.87 million in the first nine months of the year 2015, informs LETA.

Because of the lack of several laws, Latvia failed to collect EUR 30 mln from the shadow economy

Because of the lack of several laws, Latvia failed to collect EUR 30 mln from the shadow economy

31.08.2015

A number of important bills have not been passed by Latvian Saeima and, as a result, the state budget has failed to collect EUR 30 million from the shadow economy, Finance Minister Janis Reirs (Unity) said in an interview with Latvian State Television this morning, reports LETA.

31.07.2015

EcoMin: main hindrance in obtaining loans is shadow economy in Latvia

Banks are prepared to issue loans to healthy companies, however, the main hindrance for companies to obtain loans is problems related to the shadow-economy, the Latvian Association of Commercial Banks points out, commenting Economy Minister Dana Reizniece-Ozola's (Greens/Farmers) recent statements that Latvian banks' lending policies are too passive, and thus hinder Latvia's economic growth, informs LETA.

17.06.2015

Every fifth person in Latvia receives their salary ''under the table''

Even though there has been a 7% reduction in the number of persons working in Latvia who receive their salaries unofficially, there are still 18% of employed persons in the country who receive their salaries ''under the table'', and thus no taxes are being paid to the state, according to a study by the Latvian job market portal cvmarket.lv, reports LETA.

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