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BUSINESS BRIEFS

Tax evasion robs the state of billions

THE GREY economy accounts for 12 to 15 percent of the gross domestic product, while tax evasion makes up a considerable part of its losses.

Cigarette producers estimate that the evasion of excise taxes on tobacco products amounts to SKK 1.7 billion (€40.5 million), while 10 percent of all cigarettes in circulation are smuggled into the country.

Evasion of excise taxes on spirits is estimated at about SKK 1.2 billion (€28.6 million), as 30 percent of spirits currently available on the market are untaxed.

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