Informal Economy Sample Clauses

Informal Economy. In broad terms informal economy refers to ‘economic activities or income that are partially or fully outside government regulation, taxation, and observation.’22 Although there is uncertainty about the boundaries of the ‘informal economy’ concept, it is clear that informal economic activity has some negative implications for society.23 Most evidently, businesses operating outside government regulation evade taxation and social contributions, which in turn creates a loss in government revenue. Reduced social security and tax contributions, on the other hand, often lead to higher tax burdens on registered workers. 22 The above definition is used by the World Bank at xxxx://xxx.xxxxxxxxx.xxx/WBSITE/EXTERNAL/TOPICS/EXTSOCIALPROTECTION/EXTLM/0,,cont entMDK:20224904~menuPK:584866~pagePK:148956~piPK:216618~theSitePK:390615,00.html (accessed on April 10, 2014). 23 See, (Xxxxxxx, 2011), pp. 236-42. (Xxxxxxx discusses different definitions of the ‘informal economy’ concept under various disciplines.) From a social security perspective, noncompliance with government regulation often means less job security, lower wage, and absent or limited social benefits for workers.24 On the positive side, however, informal economy might be a source of job creation and a safety net for the poor, especially in developing countries.25 Lastly, from a legal point of view, ubiquitous noncompliance to government laws and regulations may risk undermining the rule of law and the credibility of governments in the eyes of the public. An informal economy accounts for a significant part of the economic activity in most developing countries.26 In addition, local businesses established in developing countries are often of very small size.27 The reasons for the sheer size of the informal economy in most developing countries might be explained by two factors. Firstly, economic activities outside the government regulation might be attributable to limited education and skills of the operators of small firms who might not be aware of the regulations and official procedures for compliance. Secondly, small firms that suffer major resource constraints might be unable to afford compliance with government regulations.28 A large informal economy in developing countries might obstruct the efficiency of implementation of competition law and policy. Because informal economic activities are off the official records and unobserved both competition agencies and firms might not be able to make a healthy estimati...
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Related to Informal Economy

  • Green Economy/Carbon Footprint a) The Supplier/Service Provider has in its bid provided Transnet with an understanding of the Supplier’s/Service Provider’s position with regard to issues such as waste disposal, recycling and energy conservation.

  • Trade and Economic Mixed Commission 1. The Parties hereby incorporate the Trade and Economic Mixed Commission (Mixed Commission) into this Agreement. 2. The Mixed Commission was established according to the Basic Agreement on Economic and Technical Cooperation between the Government of the People's Republic of China and the Government of the Republic of Peru, signed in Lima, on November 2nd, 1988. 3. The Mixed Commission is composed of officials as follows: (a) for China, the high ranking official of

  • Transparency On request, the data exporter shall make a copy of these Clauses, including the Appendix as completed by the Parties, available to the data subject free of charge. To the extent necessary to protect business secrets or other confidential information, including the measures described in Annex II and personal data, the data exporter may redact part of the text of the Appendix to these Clauses prior to sharing a copy, but shall provide a meaningful summary where the data subject would otherwise not be able to understand the its content or exercise his/her rights. On request, the Parties shall provide the data subject with the reasons for the redactions, to the extent possible without revealing the redacted information. This Clause is without prejudice to the obligations of the data exporter under Articles 13 and 14 of Regulation (EU) 2016/679.

  • Health and Safety Standards Contractor shall abide by all health and safety standards set forth by the State of California and/or the County of Xxxxxx pursuant to the Injury and Illness Prevention Program. If applicable, Contractor must receive all health and safety information and training from County.

  • Safety Standards Performance of the Contract for all commodities or contractual services must comply with requirements of the Occupational Safety and Health Act and other applicable State of Florida and federal requirements.

  • Cooperation with Economic Studies If ICANN initiates or commissions an economic study on the impact or functioning of new generic top-­‐level domains on the Internet, the DNS or related matters, Registry Operator shall reasonably cooperate with such study, including by delivering to ICANN or its designee conducting such study all data related to the operation of the TLD reasonably necessary for the purposes of such study requested by ICANN or its designee, provided, that Registry Operator may withhold (a) any internal analyses or evaluations prepared by Registry Operator with respect to such data and (b) any data to the extent that the delivery of such data would be in violation of applicable law. Any data delivered to ICANN or its designee pursuant to this Section 2.15 that is appropriately marked as confidential (as required by Section 7.15) shall be treated as Confidential Information of Registry Operator in accordance with Section 7.15, provided that, if ICANN aggregates and makes anonymous such data, ICANN or its designee may disclose such data to any third party. Following completion of an economic study for which Registry Operator has provided data, ICANN will destroy all data provided by Registry Operator that has not been aggregated and made anonymous.

  • Safeguards Monitoring and Reporting 8. The Borrower shall do the following or cause the Project Executing Agency to do the following:

  • Contract Work Hours and Safety Standards Act The following clauses apply to any Federal-aid construction contract in an amount in excess of $100,000 and subject to the overtime provisions of the Contract Work Hours and Safety Standards Act. These clauses shall be inserted in addition to the clauses required by 29 CFR 5.5(a) or 29 CFR 4.6. As used in this paragraph, the terms laborers and mechanics include watchmen and guards.

  • Record Keeping and Reporting 15.01 The Accredited Entity shall ensure that:

  • CONTRACT WORK HOURS AND SAFETY STANDARDS As per the Contract Work Hours and Safety Standards Act (40 U.S.C. 3701-3708), where applicable, all Customer Purchase Orders in excess of ,000 that involve the employment of mechanics or laborers must include a provision for compliance with 40 U.S.C. 3702 and 3704, as supplemented by Department of Labor regulations (29 CFR Part 5). Under 40 U.S.C. 3702 of the Act, each contractor must be required to compute the wages of every mechanic and laborer on the basis of a standard work week of 40 hours. Work in excess of the standard work week is permissible provided that the worker is compensated at a rate of not less than one and a half times the basic rate of pay for all hours worked in excess of 40 hours in the work week. The requirements of 40 U.S.C. 3704 are applicable to construction work and provide that no laborer or mechanic must be required to work in surroundings or under working conditions which are unsanitary, hazardous or dangerous. These requirements do not apply to the purchases of supplies or materials or articles ordinarily available on the open market, or contracts for transportation or transmission of intelligence.

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