07 September 2010

ARGENTINA: Tax Evasion Cash Is A Prime Target For Thieves.

AP/ By ALMUDENA CALATRAVA and MICHAEL WARREN /         Robberies are a big risk in Argentina where the underground cash economy is feeding a new crime wave. There have been 4,998 reported "withdrawal robberies" in the just first half of 2010, according to a security consultant. Cash is often the only way to do business even when buying homes or entire companies for many people here. Why?
    In a nation where half the population evades income taxes and taxes consume 65% of the money people do declare, many people are reluctant to use banks. Even people who want to pay without cash cannot because of demands to hide all or part of the transaction by paying in cash — preferably U.S. dollars.