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black economy

/blæk ɪˈkɒnəmi/

1 entry

phrase

/blæk ɪˈkɒnəmi/C1formalbusiness
  • ruЭкономическая деятельность, связанная с производством и обменом товаров или услуг, которая не декларируется налоговым органам, часто осуществляется нелегально или вне официального учёта.

Economic activity involving the production and exchange of goods or services that is not declared to tax authorities, often conducted illegally or off the official records.

  1. Underground economic activityB2formal

    Economic activities that are not reported to the government and are therefore illegal or untaxed.

    ruТеневая экономика

    • Many workers in the black economy do not pay taxes.
    • The government is trying to crack down on the black economy.
    • Estimates suggest the black economy accounts for a significant portion of GDP in some countries.