Fewer Slovak firms reside in tax havens

The Bisnode consulting company finds the number of Slovak companies operating in tax havens oscillating, stagnating currently.

Tax returns, illustartive stock photoTax returns, illustartive stock photo(Source: Sme)

While at the start of this year the number of Slovak companies in tax havens was increasing, in autumn it stagnated, the Denník N daily wrote, citing the data provided by the Bisnode consulting company.

By the end of the third quarter of 2017, a total of 4,802 companies from Slovakia resided in tax havens. This is 32 fewer compared to the beginning of the year, and up by five compared with last December.

The top three tax havens for Slovak firms include the Netherlands, Cyprus and the USA. The destination seeing most Slovak firms leave right now are the Seychelles, the daily wrote on October 31

“It is paradoxical that the Netherlands and the USA are among countries where the more considerable departure of Slovak companies has been recorded in the past months,” Bisnode analyst Petra Štěpánová said, as quoted by Denník N. “The Netherlands lost 14 and the USA 17 from this country. However, the Seychelles lost the biggest number – 37 companies.”

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

Caregiver Dušan, a breadwinning father working in Austria, will earn €6,000 less this year

The Austrian government has cut down child benefits for Slovak parents working in Austria if their children live in Slovakia. The European Commission regards the measure to be discriminatory.

The Valach family

Nine judges left the Constitutional Court. How will it work?

The court now has only four active judges and has published new work schedule.

Constitutional Court in Košice

Special Prosecutor Kováčik denies speculations over his loan

His bank reported a suspicious bank operation to the police, but they did not deal with the case. The incumbent police corps president may order the case to be re-opened.

Special Prosecutor Dušan Kováčik

Blog: Regional development as the key to unlock regional potential

A practical overview of the variety of measures, schemes and instruments supporting regional development and the recent changes to the legislative framework.