Slovakia’s shadow economy is estimated at around 17 billion euros, or roughly 12 to 13 percent of GDP, according to Financial Administration President Jozef Kiss. Speaking after the signing of the new “Tax Shield” memorandum with the police on Monday, Kiss said the initiative aims to strengthen the fight against tax crime and organised tax fraud through faster information sharing and joint expert teams.
Kiss said the effectiveness of tax inspections now stands at nearly 90 percent. During the first four months of this year, authorities uncovered 54 million euros in tax irregularities. Analysts have also identified around 30 individuals linked to complex tax fraud schemes worth an estimated 80 million euros. Police President Jana Maškarová stressed the need for faster action to prevent suspects from destroying evidence and hindering investigations.
Source: TASR
