Slovak companies whose parents reside in tax havens control capital stock amounting to almost €10.5 billion, data compiled by the consultancy company Bisnode has shown. This represents 13.6 percent of the total capital of all Slovak companies, the SITA newswire wrote.
Over the past year, Bisnode registered 4,796 Slovak companies seated in tax havens. The largest share is controlled by companies in the Netherlands, where 1,139 companies control equity capital amounting to almost €6.6 billion.Slovakia lags in fighting fraudsters Read more
“The Netherlands has been one of the top destinations in the long run of Slovak entrepreneurs seeking tax-favoured destinations, and in no other country do they own such a large volume of capital,” Bisnode analyst Petra Štěpánová said, as quoted by SITA.
The Netherlands is followed by Cyprus and Luxembourg. Currently, 1,106 Slovak companies reside in Cyprus with the amount of capital stock there being more than €1.5 billion, while in Luxembourg, 414 Slovak firms have total capital stock amounting to €1.348 billion.Tax evasion still causes problems Read more
The number of companies moving their seats to tax havens is increasing very slowly in annual terms, however, the Hospodárske Noviny daily wrote on March 1, citing Štěpánová.37 Slovak firms do business in tax havens on EU black list Read more