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“The number of Slovak firms registered in tax havens rose in the first half of this year by more than 7%”, neighbouring Hungary. The newspaper adds –
In an effort to prevent tax evasion, Fico has made it a condition that any bailout provided to Cyprus will only go through if Nicosia provides a list of Slovak citizens resident in the country.
A similar exodus can be seen in the more business-friendly Czech Republic, where corporations opt for tax havens mainly in Cyprus, the Bahamas and the US, in order to keep its ownership structures secret and to enjoy a better legal environment,reports Hospodářské noviny. According to the Prague business daily, already more than 300 firms left this year and many more are expected to follow.
