Informality, CI survey: Higher than in 2019, revenue law will further increase

2024-04-16 14:53:00, Ekonomi CNA
Informality, CI survey: Higher than in 2019, revenue law will further increase
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Business perceives that informality in the economy is higher than in 2019, although lower than in 2022.

An Investment Council survey of 601 companies concluded that the energy sector is the one that perceives less informality than other sectors.

"To a significant extent, business acknowledges the existence of informality, more than in 2019, but less than in 2022. Agriculture, processing, industry and services perceive more informality. Energy perceives less informality compared to other sectors.

Informality in its peak form appears as fiscal evasion, unregistered work and non-registration—a trend maintained over the years," states one of the survey's conclusions.

But what are the reasons that encourage this informality? According to the ranking in the survey, it seems that central taxes or the general fiscal burden is the main reason that promotes informality. Even according to the survey, the new income law is perceived to further promote the growth of informality.

"The most important factor that promotes informality is the fiscal burden at the central level, which has replaced the unfair competition that resulted in 2019-2022. The new law on income continues to be considered as an element that will increase informality in the country", the survey states.

The findings of the Investment Council also focus on business challenges with productivity and innovation in addition to informality. Specifically, according to KI, "77% of companies are designing strategies to invest in increasing productivity."

Likewise, digitalization has been identified as an important factor for the smooth running of efficient communication with the tax administration and the improvement of customer service.

Another element according to the survey is that innovation and efficient allocation of resources, especially in Research & Development, are seen as priorities for increasing sustainable competitiveness and productivity./Monitor

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