The shadow economy makes up 15 percent of the Czech GDP, according to data released by the Czech Statistics Office. Transactions to the tune of 614 billion crowns annually go untaxed. In addition to large-scale VAT evasion this concerns undeclared income from smaller transactions in cash for services provided. According to the Centre for Economic and Market Analyses the overall sum lost to state revenues could help create 1.5 million new jobs.
Martin Nekola: Czech Chicago and other untold stories of Czechs abroad
Czech President Zeman addresses Council of Europe
Czech Republic faces court action over freedom of movement
Czech pre-election battle plugs into war of words over lithium mining deal
How should socialist architecture be treated now?