Joining forces to combat tax evasion

COUNTRIES have joined forces in fighting against tax evasion.

(Source: Sme)

Slovakia, together with 31 other countries, signed a multi-lateral agreement in late January, intensifying the mutual cooperation in discovering tax evasion.

By signing the agreement, the country has made another step towards making this fight more effective, the Slovak Finance Ministry informed the TASR newswire. The country thus also acknowledged the implementation of BEPS (Base Erosion and Profit Shifting), the project focused on preventing erosion of the tax base and shifting of profits abroad.

“I consider this step another one in the fight against tax evasion,” Finance Minister Peter Kažimír said. “Within international collaboration, a swift exchange of information is inevitable, which contributes to discovering the evasions.”

Signing of the agreement should lead to deepening of the transparency of multinational companies. Automatic exchange of reports country-by-country will enable tax administrators to get information on selected tax indices of multinational companies, including their profits, or tax paid in individual countries. Thus, tax administrators will receive further information that will help them find out whether these companies do, or do not, artificially reduce the tax base by moving profits to other countries.

Top stories

Sweden is a European leader in further education, with 34.3 percent of involved adults in 2019.

Further education gives hope, but not to people in Slovakia

Stepping up to world-class further education provision does not end with a strategy, examples from abroad show.


11. jún
An interactive statue by the Love Bank museum in Banská Štiavnica.

Instead of love, "garden gnomes" cause uproar in a Slovak UNESCO town

Your weekly dose of easy reads about Slovakia, including EURO 2020 and geoparks.


11. jún
Recent tax measuresmayhelp to fill state coffers.

Historic deal on minimum global tax of 15 percent. Will it become relevant?

The planned tax reforms are both ambitious and complex; it is already clear that not everything will be enforceable.


8 h