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

Slovak wines do great abroad, but inspectors see them as unfit at home

Slovak legislation does not recognise orange and cloudy wines. As a result, inspectors remove them from the shelves of stores in Slovakia.

Michelin-starred restaurants buy Slovak wines while inspectors in Slovakia remove some of them from the shelves of stores

This is not even the end of the beginning

Somehow Boris Johnson sold himself as the least tiresome.

The UK is like a flatmate who promised to move out, but just never leaves. In the meantime, they keep stealing beer from the refrigerator while complaining about how it tastes.

Economy minister: A gas crisis may come after the New Year

Slovakia will probably have to use all measures possible to secure supplies.

Gas storage facility in Gajary.

Tragedy in Prešov and bad news for Kočner from the U.S.

It’s less than three months before the general election and the chairmen of two major parties are facing criminal prosecution.