Eastern, central and southern European countries have larger shadow economies than the ‘old’ western European Union countries, a study by the Policy Department for Economic, Scientific and Quality of Life Policies commissioned by the European Parliament’s Subcommittee on Tax Matters (FISC), published on Friday 25 November, has revealed.
For example, countries such as Bulgaria, Cyprus, the Czech Republic, Latvia, Lithuania and Poland are estimated to have a much stronger shadow economy...