Undeclared employment is a bad thing for everyone

Press service of the State Tax Service of Ukraine, published 03 June 2024 at 14:20 Chapter: News

Undeclared employment harms the country. Informal economy and undeclared employment in peacetime limit the country's ability to implement modern social policy in areas of education, health care, development of professional skills, employment, social protection and pension provision, contribute to tax evasion, and reduce revenues to state and local budgets.

In conditions of a full-scale war, when all forces and country's funds are directed to the approach of victory, undeclared employment and informal economy cause irreparable damage to the country's defense capabilities.