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Tax amnesty possible

THE MINISTRY of Finance is considering the possibility of a tax amnesty, among several measures designed to increase the efficiency of tax collection in Slovakia. Some other EU members have implemented a similar measure in the past.

THE MINISTRY of Finance is considering the possibility of a tax amnesty, among several measures designed to increase the efficiency of tax collection in Slovakia. Some other EU members have implemented a similar measure in the past.

A tax amnesty could generate increased revenue for the state budget and lead to a return of capital from abroad as well as reveal sources of income that were previously unknown to the tax administration.

“The measure would prevent tax avoidance in the future and increase protection of the competitiveness of honest businesses,” said the ministry, in the National Programme of Reforms that it submitted for interdepartmental review, as quoted by the SITA newswire.

The Finance Ministry lists the possibility of a tax amnesty among other measures by the government designed to increase the efficiency of tax collection.

In the second and third phase of the action plan to combat tax evasion the government wants to introduce an obligation to submit data on the domestic supply of goods and services to tax authorities electronically, SITA wrote.

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