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Bosnia, Montenegro, Serbia and Slovenia sign an agreement to limit the grey economy

Regional info/economyPosted by Uvner Business Consulting Mon, March 21, 2011 18:57:57

Serbian, Montenegrin, Slovenian and Bosnian tax authorities have signed a regional cooperation deal to clamp down on the grey economy, reports Bloomberg. During the 1990s the grey economy flourished in the Balkan countries amid wars. Slovenia is the only country from the former Yugoslavian federation to join the European Union. Serbia and Montenegro are aiming to join the EU. In Serbia alone the government lost at least $217.42 million in 2010 because of tax-evasion, Serbian Tax Administration spokesman Zoran Jovanovic to Bloomberg. (BNE 21 March)

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