Companies will be able to verify the credibility of their business partners on the website of the Slovak Financial Administration. They can browse through the list of payers of value added tax (VAT) who breached the law and lost their registration. From the beginning of this week, it will include 1,402 subjects or 0.6 percent of all VAT payers. About a thousand have tax arrears totalling more than €143 million. Most entities on the current list are from Bratislava with Kosice ranking second.
”Over a period of two months, we managed to obtain relevant information from Cyprus about Slovak companies with Cypriot partners,” said the President of the Financial Administration Frantisek Imrecze. According to the law adopted last year to fight tax fraud, the Tax Office may withdraw VAT registration if the taxpayer ceased doing business or repeatedly during a calendar year has not fulfilled its obligation to file a tax return. The tax authority can also withdraw VAT registration if the taxpayer repeatedly does not pay its tax liability, is repeatedly unreachable at the registered office, or repeatedly violates its obligations during a tax audit.
Anca Dragu
