It is the first time that Eustat has carried out a measurement of the unobserved economy, which in 2020 amounted to 6,214 million euros. Construction, trade, catering and transport are the sectors with a higher percentage of hidden added value.
Euskaraz irakurri: Ezkutuko ekonomia EAEko Barne Productu Gordinaren % 8.7 izan zen 2020an
The underground economy represented one 8.7% of the Basque Country’s GDP in 2020, which means 6214 million euros, according to estimates by the Basque Institute of Statistics. It is the first time that Eustat has carried out a measurement of the unobserved economy.
The sector in which a greater volume of the underground economy is estimated is that of the buildwhich is believed to have accounted for 23.9% of its activity ahead of those grouped by tradethe hospitality and He transportwho generated 17.1% of his wealth in a hidden way.
relative to total value of the shadow economy, the service sector is the largest contributor, at 74.1%. Within the service sector, in turn, “Trade, hospitality and transport” stands out with 32.9% and “Real estate activities” in second place, albeit at a considerable distance, with 19.4%. “Professional activities” represent 9.9% and “Other service activities” – which includes recreational and cultural services, computer repair activities and other items, as well as activities related to laundry and cleaning services, hairdressing and other beauty services – 5.3%.
Undercover activities are those legally productive activities that are intentionally – in whole or in part – hidden from the government, usually to avoid paying taxes or social security contributions.
For its part, the Gipuzkoa Provincial Council revealed in 2022 172.6 million euros in tax fraud as a result of 90,020 actions in this case. In total, 59.2 million euros came from personal income tax (IRPF) and wealth tax, 36 million euros from corporate income tax, 67.8 million euros from value added tax (VAT) and finally 9.5 million euros from the other taxes.
eitb.eus has spoken with the Bizkaia Treasury inspectors, Iñigo Egia and Joseba Garmendia, about the actions against tax fraud.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
