Kalinak: Businesses in Tax Havens Will Be Regulated by New Law

Bratislava, April 6 (TASR) – The new Government Manifesto will include a commitment to draw up a law aimed against letterbox companies, said Interior Minister Robert Kalinak on Wednesday.

“We should be concerned when money flows into areas that are uncontrollable. We shouldn’t be talking about bans but about making clear who is the real contractor in state-related business. We’ll draft a law regulating these matters,” noted Kalinak.

This law won’t be sponsored by the Interior Ministry, however, as it’s mostly an economic-financial issue. “These matters would need to be addressed in cooperation with other European states,” added Kalinak.

Kalinak was responding to the so-called Panama Papers scandal, which involves the leak of around 11.5 million documents from Mossack Fonseca law firm based in the tax haven of Panama. The documents indicate how the company appears to have helped presidents, diplomats, businesspeople, sports stars, actors and even members of royal families to avoid taxes and launder money. According to tax experts, the scandal concerns one of the biggest discoveries of tax fraud in recent decades.