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There is a positive and negative effect.
POSITIVE:the business owners doesn't pay any tax bills.And obviously the NEGATIVE effect is that there are many goods and products that are illegally brought in our country.
Wiki User
∙ 14y ago
Wiki User
∙ 10y agoTo undermine the "official" or open economy of a country or place. One immediate effect is that the money going through the underground economy is not subject to value added tax or VAT, so the state will lose some potential income.
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What are effects of political dynasty in the Philippines?
Political dynasty in the Philippines first started with the Spanish colonists. This system of oligarchy is considered by some to be the cause of corruption within their government.
Philippine economy under Spain?
The Philippines have not been 'under' Spain for more than 100 years.
What was the underground railroad good for?
The effects were to help the slaves reach freedom.
What are the effects of industrialization on society now?
Industrialization helps to strenthen the economy.
What are the Effects of colonial mentality in the Philippines?
hahahaha!! Stupid!! you don't know the history?? hahaha!! Im a korean but I still know! hahaha :)))
What are the positive effects of syntax bill?
Syntax bills can have positive effects such as reducing consumption of unhealthy products (e.g. tobacco, alcohol, sugary drinks) by increasing prices through taxes, leading to improved public health outcomes. Additionally, these bills can generate revenue for the government, which can be used to fund healthcare initiatives or other public services. They can also contribute to reducing societal costs associated with treating preventable health conditions.
What are the effects of the Philippine topography in the economic life its people?
The area of the Philippines is a major influence in the economy. It determines who they can trade with and what foods can be produced.
What economy does the Philippines have?
The economy of Philippines is based on free enterprise.
Is Philippines a mixed economy?
Yes. Philippines is a mixed economy
What are the effects of mining in the Philippines?
Mining in the Philippines has led to environmental degradation, deforestation, and displacement of indigenous communities. It has also caused water pollution, soil erosion, and loss of biodiversity. Additionally, there are concerns about child labor and the violation of human rights in mining operations in the country.
What is the difference between the economy of Japan today and the economy of the Philippines today?
The Philippines is not nearly as industrialized. The economy is unstable.
What are the effects of corruption in the Philippines?
Corruption in the Philippines leads to widespread inequality, undermines public trust in government institutions, hinders economic growth, and perpetuates poverty. It also distorts resource allocation, weakens the rule of law, and deters foreign investment. Addressing corruption is crucial for the country's development and to improve the overall well-being of its citizens.
What is the Philippines' economy before the conquest?
probably one of the best economy in the world. philippines economy before is top 2 in asia.
What is the effects on the economy?
This question is too obscure. The effects of what on the economy?
Effects of brain drain of the Philippines?
Brain drain in the Philippines can lead to a shortage of skilled professionals in key industries, hindering economic growth and development. It can also disrupt the country's healthcare and education systems as trained professionals seek opportunities abroad. Additionally, brain drain can exacerbate social inequality and reduce innovation and competitiveness in the domestic job market.
Where underground rivers are found in the Philippines?
nature
What are the effects of outflow and inflows in Philippine economy?
The effects of economic inflow in the Philippines has given this country a false sense of security in the past by eluding to having more money than is readily available. The economic outflow has thrown the Philippines into a state of debt.
