Latvia’s shadow economy

  • 2016-06-01
  • Michael Mustillo
Receiving all of one’s salary in an envelope is more accepted in Latvia by 42 per cent of respondents, compared to 24 per cent in Lithuania, and 23 per cent in Estonia. The term shadow economy denotes activities that are productive and legal but are deliberately concealed from public authorities to avoid payment of taxes or compliance with regulations. The recent Foreign Investors’ viewpoint on the Shadow Economy in Latvia conference, arranged by the Foreign Investors Council in Latvia (FICIL) in co-operation with KPMG and the Stockholm School of Econ...
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