Estonia’s Shadow Economy Costs The State Millions

  • 2015-06-04
  • By TBT staff
TALLINN - Despite recent government measures, Estonia is still haunted by its shadow economy. A newly released report by the Estonian Institute of Economic Research on the country’s shadow economy survey shows that due to illegal alcohol and cigarettes, the Estonian state was deprived last year of a total of 70.3 million euros’ worth of tax money, the Estonian economy and communications ministry announced. 11.8 million euros of that sum was excise tax and VAT the state did not collect due to sale of illegal alcohol. Meanwhile, 58.5 million euros of that sum was...
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