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Underground Economy And The Tax Evasion In Romania

Author

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  • Cristian Nicolae STANICA

    (Institute of Economic Forecast, Romanian Academy, Bucharest)

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.

Suggested Citation

  • Cristian Nicolae STANICA, 2014. "Underground Economy And The Tax Evasion In Romania," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 34(1), pages 235-240, June.
    • Handle: RePEc:ath:journl:v:34:y:2014:i:1:p:235-240
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