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I know a few small business owners in Europe and they all prefer cash as a way to avoid the hefty sales & income taxes. They want cash sales, pay some employees
by rb808 8y ago
I know a few small business owners in Europe and they all prefer cash as a way to avoid the hefty sales & income taxes. They want cash sales, pay some employees under the table, do their own spending in cash - even new cars and property. The last thing anyone wants is an electronic record of money going in and out.
So yes its privacy but not in the way the article talks about.
- krageon 8y agoThere is definitely a subsection of small business owners that operate that way (partially), but the overwhelming majority of cash flow is aboveboard (you can report cash to the tax authority, and yes this also happens) in my experience. To give you another anecdotal piece of data.