Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-02-19-Speech-4-032"
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"en.20090219.3.4-032"2
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"Madam President, the phenomenon dubbed the shadow economy is a very grave problem, impinging on every economy to a greater or lesser extent. It is primarily caused by excessive tax burdens imposed by the state, which encourage entrepreneurs to engage in undeclared business activities, bypassing the fiscal system. This results in enormous budgetary losses and an increase in unregistered employment.
In this context, the initiative for introducing a long-term reduction in VAT rates for labour-intensive services and locally-supplied services deserves particular support, as it provides businesses with an incentive to operate within the formal economy. Moreover, it will promote an increase in both productivity and employment. At the same time, however, potential adverse effects, such as the introduction of lower rates to promote free competition within the internal market, or a decrease in budgetary revenue, should be taken into account. Therefore, balanced and transparent measures are essential, since obtaining the trust of our entrepreneurs is a prerequisite for the project’s success."@en1
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