BUSINESS IN SHORT

More Slovak companies in tax havens

SLOVAK companies with owners based in countries deemed to be tax havens are growing in number. By the end of 2012 there were 3,600 such companies, which represents a 17.8-percent increase – the highest in five years, the TASR newswire reported, citing Cyprus and Seychelles among the most attractive low-tax countries.

SLOVAK companies with owners based in countries deemed to be tax havens are growing in number. By the end of 2012 there were 3,600 such companies, which represents a 17.8-percent increase – the highest in five years, the TASR newswire reported, citing Cyprus and Seychelles among the most attractive low-tax countries.

The numbers come from an analysis carried out by Bisnode Slovensko and are based on publicly accessible sources only.

“The whole of last year was marked by a significant interest of businesses in tax optimisation and securing of anonymous ownership through foreign companies,” Bisnode’s analyst Petra Štěpánová said, as quoted by TASR.

The Netherlands is another popular tax haven for Slovak companies, according to the analysis.

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