The investigation concluded that the value of economic activity in the informal sector is 20% of the GDP. Based on this information, the Minister of Economic Affairs, Geoffrey Wever, requested the Department of Economic Affairs, Commerce and Industry to create an action plan to combat the informal economy in Aruba.
When talking about the informal economy, they refer to economic activities that do not comply with the law. This entails businesses not registered at the Chamber of Commerce, with no business permit, and not registered with the Tax Department.
That means the businesses in the informal sector do not have the same expenses as those complying with the law. It creates unfair competition for those complying with the law.
To combat this phenomenon, Minister Geoffrey met with the DAECI and sat with DAECI Director Mrs. Maria Dijkhoff-Pita, Mrs. Judesca Briceño, and Mr. Jason Lejuez to discuss the action plan “Reducing the Aruban Shadow Economy.”
Our economic development depends on the businesses that invest, create jobs and comply with the law. It is essential to guarantee equal opportunities for all businesses.This plan is the first step to stopping the informal economy.
The Minister thanked Mrs. Maria Dijkhoff-Pita, Mrs. Judesca Briceño, and Mr. Jason Lejuez for the action plan, which will contribute positively to our economy.
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