underground economy
Economy
Underground Economy in Greece Is About One Quarter of GDP
The size of Greece's underground economy -- where transactions take place out of the radar of tax authorities -- is estimated to be about one quarter of the country's official GDP, according to University of Macedonia Professor Vassilis Vlachos.
The...
Economy
Greece's Shadow Economy Continues to Grow as State Coffers Miss Out on €16 Billion Annually
Greece is known for having a shadow economy, or an underground economy where people buy undeclared or illegal products and services. In recent years the shadow economy in Greece accounts for around 24-25 percent of the economy, one of...
Economy
Greek Banks Propose Tax on Cash Withdrawals to Curb Tax Evasion
Greek banks have proposed taxation of cash withdrawals so that Greeks make more electronic transactions as a measure to curb tax evasion.
The proposal is sent to the ministry of finance for further review, the basic idea being that it...
Business
Four out of Ten Continue Bribing Doctors
The bribing of doctors by patients still exists in Greece. Four out of ten patients continue giving a bribe in order to be hospitalized in a public hospital, on their own initiative, or after the “request” of the doctors....