UNDECLARED WORK
June 1st, 2004
BY KEITH NUTHALLTHE GREEKS may be European football champions, but they are bottom of the league for tax honesty, said a European Commission report, with more than 20% of work by value being undeclared. 'Undeclared work in an enlarged Union' shows Britain is much more honest, with only 2% of its GDP concealed from the tax authorities, second only to Austria (1.5%). Other upright countries were the Netherlands (also 2%), Sweden (3%), Belgium (3-4%) and - oddly - (Greek) Cyprus (4.2%), the same as Finland. The informal economy was also big in Hungary (18%), ...
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