#shadoweconomy

[my-asianewstoday-blog]

Implementation of e-Invoice tackles shadow economy, impact still being assessed – Hui Ying http://dlvr.it/TPs4kj

[theatlantic01-blog]

In Cash-Starved Greece, Plastic Casts Light Into Shadow Economy

The BBC has reported that Greek shares have dropped for a second day in a row - down 4% as at 10:30, with most of the losses being attributed to banks in the country. However, there could be a bright spot in all of the mess.

1 million debit cards have been issued since the crisis began, in an effort to minimise damage brought about by tough capital controls the country has enforced. Although there is a limit on 420 euros a person can withdraw a day, there is no such limit on how much they could spend with their debit cards. 

This could have positive impact on the economy, with more transactions taking place electronically, there is less place for those paying for with cash in the country’s shadow economy to hide (the part of the economy where goods and services are paid for with cash to avoid paying taxes). Up until now Greece had lagged behind other economies in their use of debit card transactions.

With more goods and services transactions being recorded, and from traditionally cash-based professions such as medication and Dentistry

Source:  Bloomberg, August 4th 2015

Source: BBC Business Live, August 4th 2015, 09:30 am

[abolishtyranny]

It is coming and it will be revolutionary

The New York times has a writeup about the success of AirBnb and how the business model can be applied to basically anything and how it will revolutionize life as we know it ..all thanks to technology.

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