Firms will get grades for reliability starting 2018

The Financial Administration (FS) has been preparing a chart grading the reliability of Slovak companies that will help them fine-tune rules.

František Imrecze, head of the Financial Administration František Imrecze, head of the Financial Administration (Source: TASR)

The Financial Administration (FS) is working on a tax reliability index, with its head Frantisek Imrecze presenting the project at a parliamentary committee session on March 15.

"We will check on those who are unreliable even more than now,” Imrecze said, adding that if a reliable source makes a mistake, FS will strive for a milder punishment.

The index will consider over 40 criteria but companies will not know their evaluation. It is not yet known whether the criteria will be disclosed publicly, the Hospodárske noviny daily wrote.

The IT system to generate the index will cost €2.7 million. The contract was given to the company Lynx, which developed the VAT ledger system for tax authorities.

The Financial Administration will inform the firms on potential advantages in case they are reliable.

The first evaluations are expected by January 2018.

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