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SUBMERGED ECONOMY 17% OF GDP

Dear Readers:

FUNCAS, the foundation of the savings banks, estimated at 17% of GDP the economy, If we assume that only the construction sector amounted to 20% of GDP, we can imagine that level has been reached.

sad thing about this story is that while you know the measures applied by the government to remove social, do not know any steps to tackle the biggest problem of the underground economy, leading to tax evasion, unfair competition and ultimately results in further injury to the usual.

shortly emerge tax amnesty measures, for all those who have been disappointing for all the years of prosperity.

If own corrupt politicians remain in power can we expect from our political parties, which always favor to them. After

say there is no money for basic income, and always the same no money for what is not wanted.

you enjoy the carnival, then the matter of the article:

http://www.farodevigo.es/economia/2011/03/04 / economia-sumergida-supone-17-pib-estatal/523701.html

The shadow economy accounts for 17% of state GDP Finance

fails to collect each year about 30,000 million for the economy and undeclared employment

EP / MADRID

The underground economy in Spain is around 17% of GDP, according to a study by professors at the Universidad Rey Juan Carlos, Maria Arrazola, Jose de Hevia, Raúl Sánchez Ignacio Mauleon and published in the latest 'Journal of Economic Information 'Foundation of Savings Banks (FUNC). The study's authors, who have done the calculations based on three different methodologies, concluded that between 1998 and 2008 the black economy in Spain reached 17.4% with the monetary approach, 17.6% as consumption energy and 16.7% with the model 'MIMIC' (Multiple Indicator and Multiple Causes). Thus, in the last 20 years (1980-2008), the volume of the official economy measured by GDP has more than doubled, but the economy in the same period has increased fourfold. "This shows that economic boom economy and are fully compatible," says the study.
In view of these data, Funcas stresses that the economy reached "alarming levels" in some economies such as Spain for its effects on equity, efficiency and competence. "It seems to be a broad consensus that the English economy is among them, but also the difficulty in providing data that enjoy some precision," he stresses.

In terms of tax revenue, the study shows that the economy generated a loss of tax revenue that the period 1989-2008 estimated at between 30,845 and 32.735 million per year on average per year, representing between 5.4% and 5.6% of official GDP.




Four million jobs submerged.

addition, the authors suggest that in the event that all economic activities were subject to taxation and tax revenue assuming no change observed, the tax burden would fall on average between 4.5 and 4.8 percentage points . As for the effect on employment, whatever the estimation procedure of the shadow economy is used, the estimated undeclared since 1980 has grown from around 1.4 million over 4 million by the end of the sample.
The authors explain that this figure does not imply a corresponding amount of people doing their work activity outside the formal economy, since it is possible that some of them work both in the field of economy as an officer.