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Tax Evasion and Financial Instability

Peterson K. Ozili has a new article in the Journal of Financial Crime on tax evasion:

The paper shows that tax evasion can reduce the tax revenue available to governments to manage the economy and can weaken the government’s ability to promote stability in financial systems, whereas on the contrary, taxpayers who evade taxes feel they can use the evaded tax money to rather improve their own financial stability.

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