Black Economy is still Difficult to Control in Austria

People ♦ Published: January 5, 2011; 00:28 ♦ (Vindobona)

About 14% of the economic product evades the Treasury in the Austrian economy, but experts say the trend is declining again.

Black Economy is still Difficult to Control in Austria / Picture: © Vindobona.org

Services worth a good € 20bn annually evade taxes in Austria. According to the economist Friedrich Schneider of the University of Linz, the incentives to pursue illegal employment are decreasing again. The reason for this is the expansion of the labor market.

The number of full-time illegally employed people working in Austria is between 100,000 and 200,000. Schneider indicates…

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