Commission decision on inclusion of hidden economy in GNP

European Commission decision 94/168/EC, Euratom (about 7 pages) on the inclusion of unreported economic activity in the national accounts. The decision requires all EU countries to submit to Eurostat by the end of June 1994 a breakdown of the adjustments made and the reasons for them. They must also report on the possibilities of using information from tax inspections to improve the exhaustiveness of GNP estimates.

The decision draws a distinction between explicit and implicit adjustments. Explicit adjustments are additions to reported figures. Implicit adjustments are described as including “quantity-price calculations and estimates derived from the demand side using surveys of purchasers of goods and services”.

For further information or advice please contact Franck Latrémolière.

Filed under Tax fraud.

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