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Federal Reserve Bank of Richmond: 'Taxation, Compliance, and Clandestine Activities'
September 29, 2025
RICHMOND, Virginia, Sept. 29 (TNSLrpt) -- The Federal Reserve Bank of Richmond issued the following white paper (No. 25-06) in September 2025 by Subhayu Bandyopadhyay, Sugata Marjit, Santiago Pinto and Marcel Thum entitled "Taxation, Compliance, and Clandestine Activities."

Here are excerpts:

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We investigate the trade-off policymakers face between raising tax revenues for public good provision and mitigating the distortionary effects of taxat . . .

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