The adoption of International Financial Reporting Standards (IFRS) & Internationals Standards of Auditing (ISA) is required to fight shadow economy repercussions
Authors: Rodosthenous, Maria 
Goumas, Spyridon 
Gasteratos, Ioannis 
Issue Date: 1-Jan-2016
Journal: Αρχείον Οικονομικής Ιστορίας 
Volume: 28
Issue: 1
Keywords: Shadow economy, Tax evasion, Economic growth, Panel data analysis
Abstract: 
Shadow economy and lack of transparency reduce the overall country’s tax revenues. Hence, the legal (honest) households and corporations usually bear the tax burden. Besides, high taxation is an obstacle for economic growth. In the present article an effort will be made to point out with panel data that shadow economy causes a higher effective tax rate. This distortion takes place at a greater extent in southern EU. Our sample covers annually Austria (2001-2013), Belgium (2001-2013), Cyprus (2005-2013), Denmark (2001-2013), Finland (2001-2013), France (2004-2013), Germany (2001-2013), Greece (2001-2013), Ireland (2001-2013), Italy (2001-2013), Netherlands (2001-2013), Portugal (2001-2013), Spain (2001-2013), Sweden (2001-2013) and UK (2001-2013). To fight this distortion and to increase transparency, countries should adopt the IFRS and ISA, which will cause eventually economic growth.
ISSN: 1108-7005
URI: https://uniwacris.uniwa.gr/handle/3000/1305
Type: Article
Department: Department of Accounting and Finance 
School: School of Administrative, Economics and Social Sciences 
Affiliation: University of West Attica (UNIWA) 
Appears in Collections:Articles / Άρθρα

CORE Recommender
Show full item record

Page view(s)

27
checked on Nov 23, 2024

Google ScholarTM

Check


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.