Saturday, 31 December 2016

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Under-reporting of cash receipts also leads to under-reporting of self-employment tax: at US$39bn, this dwarfs the under-reporting of conventional wages and salaries of US$10bn, with an under-reporting rate of 52% compared to 4%. To put these numbers in context, Slemrod estimates large company corporation tax under-reporting, a topic that typically attracts much more attention, at US$25bn.

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