Prevention is everyone’s responsibility We shed light on combatting the shadow economy

Tens of millions of euros of discretionary government grants to operators in the grey economy

13.1.2025 Tax Administration

Up to EUR 250 million of government grants are paid annually to companies neglecting their obligations. The recipients of discretionary government grants in 2023 included limited liability companies that were assessed to be grey economy companies based on tax audits. In 2023, some 200 limited liability companies in the grey economy received government grants, and the total sum of the grants was approximately EUR 29 million.

Government ensures to combat the shadow economy and economic crime

19.12.2024 The Ministry of Economic Affairs and Employment

On 19 December 2024, the Government adopted a strategy and an action plan for tackling the shadow economy and economic crime for 2024–2027. During the new programming period, operating conditions of the authorities will be enhanced and their cooperation intensified.

Organised Crime Gaining Ground in the Finnish Business Sector

9.12.2024 Tax Administration

Individuals connected to organised crime are taking control of an increasing number of companies in Finland, particularly in the fields of construction, real estate, and car sales─sectors known for their high risk of grey economy activity. This information is revealed in a recent report by the Grey Economy Information Unit.

The big picture of the grey economy and economic crime

The website on the grey economy and economic crime www.grey-economy-crime.fi provides summarised information on the grey economy and economic crime in Finland. The website is maintained through the cooperation of the authorities engaged in combating the grey economy. Further information on the authorities is available under the section About this website.

The website will support the decision-making of authorities and political decision-makers. The information it provides will enhance society’s capabilities to react rapidly to the phenomena and harm associated with the grey economy and economic crime. In addition, the website will provide companies and citizens with information on how to act or protect themselves against such harm.

The big picture is a combination of various aspects

The website provides an overview of the topical phenomena of the grey economy and economic crime comprising the observations of a number of different authorities. In addition, the website offers both domestic and international estimates on the scope and amount of the grey economy and economic crime. The website also provides information on the impact of action taken to prevent the grey economy and economic crime based on the statistics of authorities, including company audits and their results. The website also follows the progress of various projects included in the operational programme concerning the grey economy and economic crime.

 

Key figures
Grey economy
Resources
Input and cases
The authorities’ resource monitoring tool shows, in a whole new way, the amount of available resources in annual work units, processed cases, and cases waiting for processing. The data are updated three times a year.
€1 billion
Value of undeclared work
The annual value of undeclared work is estimated to be €900–1,400 million in Finland. Undeclared work also causes losses of taxes and social insurance contributions totalling €300–480 million.
2 391 pcs
New economic crimes
Last year, the Police of Finland recorded a total of 2,391 new economic crimes. This is 15 % more than in 2022.
48 % no
Residence permit for entrepreneurs
The permit is granted in two stages: the Centre for Economic Development, Transport and the Environment (ELY) makes an interim decision before the final decision is made by the Finnish Immigration Service.
€13 million
Falsified receipts
Using falsified receipts in accounting are a typical means of tax evasion in the shadow economy. Fraudsters use falsified receipts to free up funds for undeclared payroll or hidden dividends.

About this website

The website

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