A joint scientific seminar of the Economics&Management and Finance&Accounting Departments of Azerbaijan University was held. Hasan Rahimli, the lecturer of the Economics&Management Department, presented his extensive research on the topic “Informal economy” at the seminar organized online. 

The seminar mainly touched upon and discussed the basic concepts and categories related to the informal economy; issues such as official statistics of informal economy in the world and in the country; the causes of informal economy; positive and negative effects of informal economy; the structure of informal economy; criminal and non-criminal economic activity: gray and black economy; economic and financial crime in informal economy; the impact of informal economy on business; economic crimes and the fight against them; financial crimes and financial fraud; tax evasion in the field of finance and accounting; identification of false and unreliable information in financial reports; ways to eliminate informal economy. 

At the end of the scientific seminar, proposals were made to reduce the share of the shadow economy in GDP and eliminate its negative consequences, and a decision was made to include the topic under discussion in scientific articles and theses to be written by the Department lecturers in the coming period. 

Public Relations Department