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Shadow Economy Of Russia
The shadow economy () is one of the most controversial aspects of Russia's economic history. In 2011, according to official Rosstat estimates calculated using the GDP adjustment method, the degree of shadowization of the Russian economy was about 16% of GDP, with a turnover of about 7 trillion rubles a year. About 13 million people were involved in the shadow sectors of the economy; according to independent experts, 22 million Russians are employed in the informal sector. To calculate the share of the shadow economy in the country's GDP, the State Statistics Committee of Russia usually proceeds from the ratio to GDP of income from hidden and informal economic activities permitted by law. This technique complies with the recommendations of international organizations. It should be taken into account that the concept of hidden and informal production in statistics differs from the indicators of the shadow economy used to calculate the taxable base (). The dynamics of the volumes of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shadow Economy
A black market, underground economy, or shadow economy is a clandestine market or series of transactions that has some aspect of illegality or is characterized by noncompliance with an institutional set of rules. If the rule defines the set of goods and services whose production and distribution is prohibited by law, non-compliance with the rule constitutes a black market trade since the transaction itself is illegal. Parties engaging in the production or distribution of prohibited goods and services are members of the . Examples include the illegal drug trade, prostitution (where prohibited), illegal currency transactions, and human trafficking. Violations of the tax code involving income tax evasion in the . Because tax evasion or participation in a black market activity is illegal, participants attempt to hide their behavior from the government or regulatory authority. Cash is the preferred medium of exchange in illegal transactions since cash transactions are less-eas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
