black economy


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black economy

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

black economy

n
(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

black economy

Economic activities which take place without the paying of taxes.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.black economy - a hidden sector of the economy where private cash transactions go unreportedblack 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
References in periodicals archive ?
The ATOs action demonstrates our commitment to ensuring a level playing field for all businesses by tackling illegal phoenix activity, tax evasion and the operation of the black economy.
The values need to be revised upwards if the FBR is sincere in curbing the black economy.
In his message on social networking site twitter, Naeem ul Haq said that Pakistan's official GDP is around Rupees 44 trillion and estimates for the black economy vary from 20 to 50 trillion rupees.
Demonetisation just made counterfeiting more expensive and investment in black economy a bit more stressful.
He said that amnesty schemes never worked in the past and without plugging the loopholes black economy will continue to appear, and the future government will continue to bring more amnesty schemes.
According to a press release issued by FBR smuggling has long been source of concern for the country and is one of major components of the black economy. The smuggling mafia has hit the genuine business practices across country.
This practice also encouraged black economy and attracted the conditionality of the Financial Action Task Force (FATF),' reasoned Ashraf.
Abdul Rauf Mukhtar hailing the scheme termed it as a right step in the right direction with the objective to bring the tax evaders under the tax net, enhancing the country's revenue base, documentation of economy, curtailing the size of ever increasing black economy and to bring dead assets in the mainstream of economy and make them functional.
The 'Asset Declaration Scheme' provides an opportunity to all Pakistani citizens to whiten black economy by paying 4 per cent on cast assets held within Pakistan and 6 percent if cash assets are kept abroad.
Macroeconomics of the Black Economy by Saumen Chattopadhyay, Orient Blackswan Pvt.
His remarks come a day after President Ram Nath Kovind on Thursday justified the Prime Minister Narendra Modi-led central government's demonetisation move and said that it had "struck at the very root" of the country's parallel black economy. (ANI)
It is the power of money and funding of political parties by billionaires involved in black economy and vested interests of powerful individual belonging to state institutions, which has been the cause for protecting non-filers who are beneficiary of businesses that contribute minimum to state taxes but derive maximum benefits.