There are now 12,400 Czech companies based in tax havens, the fewest since
2011, after a record 405 moved operations this year, the consultancy
Bisnode says.
Many tax havens have largely ceased to perform their core functions, namely
securing their owners’ anonymity and tax optimization, accord to the
consultancy.
A total of 157 Czech firms left the Netherlands this year and 147 left the
United States. Dozens also moved their headquarters from Cyprus (36
companies), Luxembourg (32) and the British Virgin Islands (22).
Bisnode estimates that only 2.47 percent of Czech firms are now controlled
from tax havens. It says destinations such as Hong Kong and the United Arab
Emirates are increasingly popular.