tailieunhanh - TAX EVASION ACROSS INDUSTRIES: SOFT CREDIT EVIDENCE FROM GREECE

Our main data are proprietary Öles covering 2003-2010 from one of the ten large Greek banks, which together account for eighty percent of the market share. The bank has tens of thousands of customers, with branches across the country. The dataset is the universe of applications for consumer credit products and mortgages, both approved and rejected. Consumer credit products include term loans, credit lines, credit cards, overdraft facilities, appliance loans, and reÖnancings. Our dataset includes every piece of hard information that the bank uses in its credit scoring model. Administrative data provide the date of the application, the branch o¢ ce, the purpose of the loan, the requested. | Tax Evasion across Industries Soft Credit Evidence from Greece NIKOLAOS ARTAVANIS Adair morse margarita TSOUTSOURA Virginia Polytechnic Institute and University of Chicago Booth University of Chicago Booth State University School of Business and NBER School of Business June 19 2012 Abstract We begin with the new observation that banks lend to tax-evading individuals based on the bank s perception of true income. This insight leads to a novel approach to estimate tax evasion from privatesector adaptation to semiformality. We use household microdata from a large bank in Greece and replicate bank models of credit capacity credit card limits and mortgage payments to infer the bank s estimate of individuals true income. We estimate a lower bound of 28 billion euros of unreported income for Greece. The foregone government revenues amount to 31 percent of the deficit for 2009. Primary taxevading occupations are doctors engineers private tutors accountants financial service agents and lawyers. Testing the industry distribution against a number of redistribution and incentive theories our evidence suggests that industries with low paper trail and industries supported by parliamentarians have more tax evasion. We conclude by commenting on the property right of informal income. Corresponding Authors Adair Morse email . Margarita Tsoutsoura email tsoutsoura@. We are grateful for helpful comments to Loukas Karabarbounis Amit Seru Annette Vissing-Jorgensen Luigi Zingales and seminar participants at Chicago Booth Berkeley Haas INSEAD Catholica Lisbon School of Business London Business School NOVA School of Business UBC NBER Public Economic meeting Booth-Deutschebank Symposium and the Political Economy in the Chicago area conference. This research was funded in part by the Fama-Miller Center for Research in Finance the Polsky Center for Entrepreneurship at the University of Chicago Booth School of Business and the Goult Faculty Research

• Ngân hàng - Tín dụng
• Endometriosis
• Urinary Tract Endometriosis
• Diagnosis and Treatment
• Perineal Endometriosis
• Abdominopelvic Complications
• Complications of Endometriosis