ALBANIA ENLISTS ACCOUNTING FIRM ERNST & YOUNG TO HELP COMBAT ECONOMIC CRIME

Reuters on 28th May reported that Albania’s under-resourced government has signed a deal with accounting firm Ernst & Young o to get hands-on help in fighting rampant tax evasion and other economic crimes.  The black economy in Albania is estimated to be worth about a third of its GDP despite a government campaign to get everyone to issue receipts for all goods sold. Tax evasion amounts to nearly 8% of GDP, or €810 million, equal to 6 times the defence budget, a 2017 study showed.  The Ernst & Young team will be led by an American who has worked for the FBI and a German who managed his country’s economic crime unit.

https://uk.reuters.com/article/uk-albania-crime/albania-enlists-accounting-firm-ernst-young-to-help-combat-economic-crime-idUKKCN1IT1VZ?rpc=401&

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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