"It is possible to obtain an additional 50-70 million euros from the shadow economy. According to the figures, for example, tax revenues are higher than growth. That means that the State Revenue Service is working and reducing the size of the shadow economy," said Reirs.
The share of shadow economy in Latvia reached 23.5 percent of the country's GDP in 2014, decreasing by 0.3 percentage points from a year before, according to a study by the Center for Sustainable Business at the Stockholm School of Economics in Riga (SSE Riga).
In that context, an extra €70m would be just the tip of a a very large and shadowy iceberg.
