Fewer Slovak companies based in tax havens
THE NUMBER of Slovak companies residing in tax havens dropped in the first three months of this year to 4,248, which is by 114 less than in the end of last year.
Most companies left Monaco and Jersey. The trend is the opposite rose by 23 to 13,270, the TASR newswire reported.
“Currently it is not possible to predict whether it is change of trend or statistical divergence,” Petra Štěpánová of Bisnode said, as quoted by TASR, adding that in the case of Czech Republic they have already noticed significant slowing of the growth in tax haven companies.
This comes as a result of stricter regulation, tax and legislative changes and closer supervision, as well as concerns of entrepreneurs from revealing the bank secrecy.
Most Slovak companies left in the first quarter of 2015 Monaco (50), Jersey (33) and the Netherlands (14), as well as Cyprus (12) and Seychelles (10). Their number increased in Panama (six) and Malta (five), TASR wrote.
