Vladimír Urbánek (Kurzy.cz)
Business  |  November 22, 2012 15:17:11

The EU announced a fight tax evasion. Prevent companies use tax havens

More than one trillion euros per year coming European Union countries only because firms in member countries avoid paying taxes and using loopholes in tax standards. In the Czech Republic, for example, using the possibility to relocate to one of the tax havens of more than 12,000 companies. Is confirmed by the number of Companies and Companies (Co8Co.eu) selling ready-made companies and the establishment of new companies through a simple online form at Co8co.eu. The European Commission is planning in the coming days to submit a proposal for amendments to make it stop.

European Commissioner Algirdas Šemeta, who is responsible for Taxation and Customs Union, is going to create a list of the greatest offenses and their retaliation. "According to the Financial Times should be one of the proposals tightening the definition of tax havens and the subsequent termination of bilateral agreements on avoidance of double taxation. In practice, these countries so companies could no longer use. While transferring a similar regulation into practice will take years, "says Ivan pear from the company Companies and Companies (Co8Co.eu) selling ready-made companies and the establishment of new companies through a simple online form at http://www.co8co. eu /with the Organisation for Economic Cooperation and Development (OECD) defines a tax haven as a state which must meet four basic conditions. Effectively selects zero rate, the choice is opaque (ie, that the country does not require information from the accounting). Further cooperation in the exchange of tax information with other countries is very low. The last condition is that the taxpayer does not have to be in the country most of the year and present business in it.

Commissioner also considering introducing a withholding tax payment, sent to these countries. Other fairly radical measure could be the adoption of the Act, which prohibits the payment of high fees divisions sister companies in tax havens. Companies such as when they use payment services such as computer systems management or counseling. Artificially shifting profits to areas where there are low or zero taxation and business headquarters pays nothing.

Among the sinners include Starbucks, Google and Amazon

These incorrigible sinners are Starbucks, which for 15 years of its operation in the UK to pay income tax in only one case. The company has yet billions in sales. A few days ago even top executives got bonuses at L 50 million. Similarly on for giants like Google and Amazon.Known search engine and other Internet tools staggering profits in Ireland and the British budget last year contributed only 0.4 percent of total income.

More than 12,000 companies based in tax havens

Just under six months of this year moved into one of the tax havens is established Czech? 294 companies. Last year it was 328 companies. In total, the data according to these Companies and Companies and 12,046 publicly available sources of domestic enterprises, which corresponds to 3.29 percent of all companies registered in the Czech Republic. While maintaining the momentum outflow sites, this could leave this year from the Czech Republic most companies in the last three years. Number of firms relocated to Cyprus is increasing, from 663 companies in 2006 to 1,784 companies in the first half of this year. Interest is growing as well as the Bahamas, Belize and the Seychelles. One of the main reasons why entrepreneurs choose incorporation in Cyprus, and is primarily tax returns. "Cyprus has concluded many agreements on avoidance of double taxation. Thus, the income of Cypriot companies from abroad burdened no or low taxes, "says Ivan pear from http://www.co8co.eu/ .

CR increased withholding tax and thus divert their complaints

The Chamber of Deputies approved only recently increased VAT 15 and 21 percent, but also increase the withholding tax on foreign income residents. Currently applies to withholding tax of 15 percent. Next year, the rate rises to 35 percent.

The government wants to stop the leakage of money to countries where they pay no taxes. The Ministry of Finance will have next year another tool, how to stop it. For tax-free transfer of money, such as a popular account when paying for Seychelles difficult to substantiate services, will place the existing withholding tax of 15 per cent from the beginning of next year to pay 35 percent. The state of the promises that acquires treasury roughly one billion crowns.

What specifically will increase

Withholding tax is primarily relates to income from dividends, interest, royalties, income from services and income from self-employment. In the Czech Republic, for example, someone orders a counselor from the British Virgin Islands, pay tax person who commissioned it, not the consultant. For services ordered by us withholding tax does not apply.


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