Number of companies not paying income tax increases

Analysis shows that the number of companies not paying corporate income tax has increased. There are various reasons for this.

Paying taxes, illustrative stock photo. Paying taxes, illustrative stock photo. (Source: Sme)

The number of companies in Slovakia that did not pay corporate income tax to the state for last year increased by 13 percent year-on-year to 20,183. In total, however, most entrepreneurs, i.e. 105,152, pay income tax between €0.1 and €1,000, the SITA newswire wrote.

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Their number has increased y-o-y by less than five percent, according to the latest analysis by the consultancy firm Bisnode.

“We can see behind the current 13-percent increase in the number of businesses with zero-tax duty the fact that the economy and, thus, also entrepreneurs are doing well,” Petra Štěpánová, an analyst with Bisnode said, as cited by SITA. “Most of them are investing in business development, so some of them might find themselves in the red.”

She also expects the number of companies in this category to grow in the future. “Starting from 2018, the government will abolish the tax licenses that have to be paid by loss-making entrepreneurs also,” Štěpánová forecasts. “Companies have not been motivated before now to look for ways to operate with a loss. This may change from next year on.”

All companies on the Slovak market had to file their tax returns by the end of September 2017 which showed that in the past year, the number of companies entitled to pay zero taxes (i.e. in loss) has increased the most, the TASR newswire noted. It is interesting to compare that in 2015, their number was the smallest it has been in the past five years.

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