Spectator on facebook

Spectator on facebook

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.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Heavy rains flood the Tatras Video

People had to be evacuated and several hiking routes had to be closed.

Stará Lesná

Trump plays with the world like a spoiled child

The White House is now broadcasting its most spectacular soap opera, beating and overcoming those of sundry leaders from different continents and different times.

Donald Trump

Last Week in Slovakia: People marched for LGBTI rights in Bratislava Audio

Listen to all the headlines from The Slovak Spectator's news podcast.

Rainbow Pride in Bratislava

Government has no plans to officially commemorate the victims of the 1968 invasion of Czechoslovakia

Presidents of the Slovak and Czech Republics will take a train ride to mark the founding of the Czechoslovak State.

Law Faculty of Comenius University in Šafárikovo Square, where the civilian killings by foreign armies on August 21, 1968, were most concentrated.