International Internet Magazine. Baltic States news & analytics
Thursday, 30.10.2014, 20:12
Currently, the shadow economy in Latvia is at approximately 24.7% of gross domestic product (GDP), according to calculations by Dr. Friedrich Schneider from the Johannes Kepler University of Linz, reports LETA.
Keyword tags: Analytics, Education and Science, EU – Baltic States, GDP, Latvia, Legislation, Shadow economy
In 2014, revenue to the state budget has been collected better than expected, thus the Government hopes the budget will receive LTL 65 million (EUR 19 million) more than previously projected, reports LETA/ELTA, referring to Respublika.
President of Lithuania Dalia Grybauskaite attended the opening ceremony of the Transparency International summer school against corruption and discussed with the youth about the reasons behind corruption and measures contributing to seek for greater transparency, informs LETA/ELTA.
"Judging by tax revenue and increasing salaries, we believe that the shadow economy is shrinking," Director General of the State Revenue Service Inara Petersone says in an interview with newspaper Diena, cites LETA/Nozare.lv.
The proportion of shadow economy in Latvia could be around EUR 5 billion, director of "SSE Riga Sustainable Business Center" Arnis Sauka estimates, cites LETA.
The number of Lithuania's residents who regard corruption as a serious problem has reduced, says Mindaugas Linge, Advisor to the president on domestic policy, informs LETA/ELTA.
According to the data of the Estonian Institute of Economic Research, the share of illegal vodka formed 20-23% of the Estonian market last year, due to which the state was deprived of 13.4 million euros in uncollected tax money, Riigikogu Finance Committee roundtable meeting "Excise goods and illegal market" stated on Thursday, LETA/Postimees Online reports.