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Date: April 30, 2024 Tue
Time: 1:23 am
Time: 1:23 am
Results for underground economy (europe)
1 results foundAuthor: Council of Europe. Parliamentary Assembly. Committee on Economic Affairs and Development Title: The Underground Economy: A Threat to Democracy, Development and the Rule of Law Summary: The underground economy represents a large and growing share of the overall economic activity in Europe and beyond. It accounts for from about 10% to over 60% of gross domestic product in different European countries. The “new democracies” of central and eastern Europe – where the rule of law is more fragile and where vested interest groups are firmly rooted – are particularly affected. The evolving structure of the world economy, the geopolitical changes following the fall of the Berlin Wall and the global economic crisis have all fuelled the growth of the informal economy. The report stresses that the underground economy and its extreme form – economic crime – significantly erode state authority and the capacity for good governance which are essential for fostering democracy, development and the rule of law. These phenomena also deprive state budgets of much tax revenue, distort competition, flout citizens' socio-economic rights, slow down economic progress, abuse public welfare systems and propagate lawlessness. The reports considers that the Council of Europe should pay more attention to addressing the problem of undeclared work, study more closely the activities of offshore centres as financial intermediaries and review the situation of organised crime in its member states. It proposes a series of directions for action, ranging from evaluation measures, regulatory adjustments, electronic surveillance of money flows, use of economic intelligence to information exchange, whistle-blowing and witness protection. Details: Strasbourg Cedex: Council of Europe, 2011. 14p. Source: Internet Resource: Doc. 12700: Accessed January 23, 2012 at: http://assembly.coe.int/Documents/WorkingDocs/Doc11/EDOC12700.pdf Year: 2011 Country: Europe URL: http://assembly.coe.int/Documents/WorkingDocs/Doc11/EDOC12700.pdf Shelf Number: 123735 Keywords: Counterfeit GoodsEconomic CrimesTax EvasionUnderground Economy (Europe)Whistleblowing |