Off the Books

(redirected from Off-the-Books)
Also found in: Dictionary.

Off the Books

A payment for which no record is kept. Off the books payments may simply result from poor record keeping. However, the term connotes illegal or unethical payments. For example, a bribe may be kept off the books.
References in periodicals archive ?
The measure is to reduce the off-the-books output aimed at reducing the number of unofficial deals in the industries that represent the largest share of the grey economy: trade, agriculture, transport, real estate and manufacturing industry.
In the first section of this paper, therefore, the ways in which entrepreneurship has been conventionally depicted in the literature will be reviewed so as to display how the wholesome, clean and pure narratives of entrepreneurship that dominate the literature have written out off-the-books entrepreneurs from their portrayals followed in the second section by a review of what is known about the relationship between entrepreneurship and off-the-books endeavor.
Before commencing, however, it is necessary to define what is here meant by off-the-books work or what has been variously called "informal employment," the "underground economy," "shadow work" and "hidden sector" to name but a few of the nouns and adjectives employed.
Unlike the off-the-books economy where there is a strong consensus regarding what it is, entrepreneurship has proven far harder to pin down.
Viewed in this manner, it quickly becomes apparent why off-the-books entrepreneurs have been written out of mainstream entrepreneurship.
To achieve this, I here focus upon unraveling the nature of entrepreneurship in Ukraine so as to bring to the fore how many entrepreneurs engage in off-the-books transactions in their daily practices in order to challenge the notion that these are super-heroic figures.
A recent survey of business opinion on the extent and impacts of off-the-books work identified that this constitutes a large segment of the UK economy.
Based on telephone interviews with 7,505 small businesses, the finding was that one in seven (14 per cent) are negatively affected by off-the-books traders and nearly one in 15 (6.5 per cent) view such cash-in-hand work as having a significant or very significant negative affect on their business.
As the table overleaf shows, there were also significant regional variations in the degree to which off-the-books was seen to be prevalent, with business in peripheral rural regions (for example East Wales, the Highlands and Islands) among those claiming to be most affected.
It is also acknowledged that support and advice about how they might resolve their situation is generally not widely available at present to small businesses conducting some or all of their transactions off-the-books. The development of a bespoke 'formalisation service' is therefore viewed as necessary to bridge this gap between the wealth of business advice and support available to formal businesses and its absence for those who operate wholly or partially in the cash-in-hand economy.
Allegations began to emerge that it had used off-the-books offshore firms to hide losses.
But Adams thinks tax avoidance plays a useful social function in high-tax nations: It serves as a "safety valve against violence and rebellion." He writes: "If my neighbor operates off-the-books and pays no tax, my tax rates do not increase.