Tax Evasion to Cost Germany 65 Billion Euros in 2012, Bild Says

Tax evasion will cost Germany about 65 billion euros ($79 billion) in lost revenue this year, Bild reported, citing studies by Friedrich Schneider at the Johannes Kepler University in Linz, Austria.

About 50 billion euros in revenue will be lost from off-the-books income and as much as 15 billion euros from undeclared investment outside Germany, the newspaper said.

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