168 Slovak companies have owners based in Panama

According to an analysis done by FinStat.sk there are 168 companies registered in Slovakia whose owners are based in Panama. Their total revenues reach €38 million but only about a third of them are profitable. Many of these companies share the same address, usually a building owned by a company offering office spaces, also sharing directors. "The number of such companies has increased in Slovakia since 2009. Biotron has the highest publicly declared revenues at €18 million while the most profitable one is Morcone with €10.4 million in profits", says FinStat's analyst Jana Polakovičová, quoted by aktuality.sk. She adds that this firm which is registered as a business and real estate consulting one paid for such a profit recorded in 2014 only the minimum tax required by the Slovak law which is €2,880.