Tag: shadow economy
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State Audit: Latvia’s Shadow Economy Plans—Are They Working?
Introduction: Latvia’s ongoing fight against the shadow economy The shadow economy, or informal economic activity not reflected in official statistics or taxed according to regulations, has long posed a challenge for Latvia. Since 2010, the country has sharpened its focus on reducing unreported work, evasion, and the broader tax gap. The central question confronting policymakers…
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State Audit: Latvia’s Shadow Economy Plans Prove Ineffective
Overview: What the State Audit Found The latest state audit on Latvia’s efforts to combat the shadow economy indicates that much of the progress hoped for remains unrealized. While authorities have implemented a series of measures since 2010—ranging from better data collection to targeted enforcement—the audit concludes that the planned reforms have not achieved the…
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State Audit Findings: Latvia’s Shadow Economy Plans Fall Short
Introduction: A Persistent Challenge The shadow economy—economic activity outside official statistics and tax obligations—remains a persistent challenge for Latvia. Since 2010, authorities have repeatedly sought to curb informal work, tax evasion, and undeclared income. A recent state audit assessment underscores that, despite ongoing reforms, the country’s plans to combat the shadow economy have not achieved…