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Reinforced inspections in trade, grey economy leader.

Inspectors will be merciless to traders who do not pay taxes and stimulate illegal operations. In order to subdue the grey economy, the Government passed a new action plan to control farmers, tourism, energy and metrology, too. According to government officials, trade is a grey economy leader.

"We are going to have serious problems implementing the trade law yet we will have to intensify the activities together with the market and other inspectors to eliminate grey economy," Labor Minister Spiro Ristovski said.

The grey economy is on the downturn in relation to 2005 when it accounted for 40 percent of GDP.

"The Ministry of Economy this year plans serious activities as regards the trade law and the full implementation of the law on tourism and catering. We are not going to eradicate the grey economy completely, but we are going to try and reduce it to a reasonable level," said Economy Minister Valon Saraqini.

The action plan for subduing the grey economy encompasses also introduction of fiscal cash registers and registration of traders in green markets, fighting sale of illegal and smuggled goods, reinforcing inspections in the field of mineral raw materials, preventing tax frauds and categorization in tourism.
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Title Annotation:BUSINESS NEWS
Publication:INFOMAC Daily News Service
Date:Jan 20, 2012
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