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AnonymFeb 9, 2013

what is black money?

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    Feb 10, 2013

    black money is the unaccounted money concealed from tax authorities.The black money runs a parallel economy adversely affecting the distribution of wealth and income in the economy. The total amount of black money globally is estimated between $2.1 and 2.5 trillion.This is roughly about seven percent of the world's GDP.

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    Feb 10, 2013

    Proceeds, usually received in cash, from underground economic activity. Black money is earned through illegal activity and, as such, is not taxed. Recipients of black money must hide it, spend it only in the underground economy, or attempt to give it the appearance of legitimacy through illegal money laundering.

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