black economy

A segment of a country's economy that consists of black-market activities.

American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

black economy

(Economics) that portion of the income of a nation that remains illegally undeclared either as a result of payment in kind or as a means of tax avoidance

Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014

black economy

Economic activities which take place without the paying of taxes.

ThesaurusAntonymsRelated WordsSynonymsLegend:

Noun

black economy - a hidden sector of the economy where private cash transactions go unreported; "no one knows how large the black economy really is"

sector - a social group that forms part of the society or the economy; "the public sector"

economic system, economy - the system of production and distribution and consumption

Translations

black economy

n (Brit) → economia sommersa

Collins Italian Dictionary 1st Edition © HarperCollins Publishers 1995

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References in periodicals archive

When entrepreneurs hide in the informal economy because of uncertainty over bureaucrats' behavior and weak protection of property rights, carrot policies, especially those that are based on a one-off subsidy, are unlikely to tip the scale.

Sticks or Carrots? Comparing Effectiveness of Government Informal Economy Policies in Russia

where [[mu].sub.x] is the mean of informality in the data and [[mu].sub.y], the mean of informality in the model, [[sigma].sup.2.sub.x] and [[sigma].sup.2.sub.y] are the respective variances and [rho] is the correlation between the informal economy estimates in the model and data.

Tax rates, governance, and the informal economy in high-income countries

Characterised by fully functioning markets for land and housing, labour and other goods and services the informal economy becomes a 'problem' at times of formal crisis, because it is easy to explain away underlying structural issues by claiming that all would be well if the entire 'informal' economy was accounted for and contributed to the national exchequer.

Economic illusion

According to the Minister, expanding pension coverage to the informal economy remains a top priority for the Ministry in the short to medium-term.

Government transfers 3.1billion to Pension schemes

The Department of Labor and Employment estimates that there are 16.7 million workers in the informal economy. This means that roughly two in five Filipinos who are 15 years of age and older are in the informal sector.

Bringing the informal sector to the mainstream

Ministry of Planning -- Youtube CAIRO -- 6 August 2019: Egypt is preparing to issue a law to merge the informal economy with the legitimate economic system in the coming period, Deputy Minister of Planning, Follow-up and Administrative Reform of Planning Ahmed Kamali said Tuesday.

Egypt prepares to issue law merging informal economy with legal system

The undocumented economy or the informal economy also hinders proper economic planning for socio-economic development.

Purpose of amnesty scheme

RAWALPINDI -- The Rawalpindi Chamber of Commerce and Industry (RCCI) President Malik Shahid Saleem Tuesday urged government to document the informal economy.

RCCI stresses to document informal economy

RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) President Malik Shahid Saleem Tuesday urged government to document the informal economy.

RCCI stresses to document informal economy

Rawalpindi -- The Rawalpindi Chamber of Commerce and Industry (RCCI) President Malik Shahid Saleem on Tuesday has urged government to document the informal economy. The share of informal economy towards Gross Development Product (GDP) falls around 27 per cent, he added.

RCCI urges govt to document informal economy