Monday, December 20, 2010

IMF steps up measures to tax Europe's Shadow Economy

The IMF plans to give nations in Europe, with around 30% GDP going to the underground economy, guidance in taxing their shadow economy. With about 30 million in USD's to help countries like Greece and Ireland tax their underground economy.

Countries with strong underground economies will be forced deeper into the underground. Tax guidance from the IMF will prove week at best. It is cheaper for a business to avoid regulation's, and taxes. In these challenging economic times shadow economies grow.

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