Double bookkeeping - what does this expression mean?

What is Double Accounting

Double accounting is the slang name for illegal schemes of doing business, the main purpose of which is tax evasion.

The word "double" in this case means that for the report before the tax authorities, only one (official) performance indicators are provided, but in fact there are other, "black" figures that are hidden from the state, because for them the firm must pay much more taxes in treasury. A classic example of "double bookkeeping" is "salary in envelopes," when taxes are paid from a small official salary, and the rest, the "black" part of the employees receive cash.




Double-entry bookkeeping is on the lists: Slang , Finance , Phraseologisms , Phrases


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