Italy’s black economy equals a third of GDP

Rome, Jan 29 (IANS) Italy’s black economy is worth at least 540 billion euros ($752 billion), or around a third of its gross domestic product (GDP), Eurispes research agency estimated in a report.

The Italian black economy accounted for around 270 billion euros in dodged taxes, Eurispes highlighted in Thursday’s report.

“Are we all evaders? Probably yes,” the Rome-based private agency wrote, describing tax dodging as a widespread phenomenon in the country.

In addition, more than 200 billion euros were generated by the criminal economy, according to Eurispes.

The agency found that in 2015 more than 28 percent of those interviewed agreed to work without an employment contract, compared to nearly 19 percent of 2014.

Among them there were babysitters, private tutors, domestic workers, care takers for the elderly, gardeners, bricklayers, plumbers, electricians, carpenters and specialist doctors.

Police investigations led to asset seizures worth over 895 million euros and reports of nearly 20,000 irregular workers as well as 4,483 employers who used black labour, Eurispes said.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here