Politická ekonomie 2017, 65(2):198-216 | DOI: 10.18267/j.polek.1136

Motívy zakladania onshore a offshore spoločností slovenskými podnikmi v roku 2014

Peter Krištofík, Michal Ištok, Gabriela Nedelová
Peter Krištofík (peter.kristofik@umb.sk), Michal Ištok (michal.istok@umb.sk), Gabriela Nedelová (gabriela.nedelova@umb.sk), Univerzita Mateja Bela v Banskej Bystrici

Motives of Establishing of New Onshore and Offshore Companies by the Slovak Enterprises in 2014

We contribute to the rare evidence of driving motives of establishing new onshore and offshore companies by analysing the situation in the Slovak Republic in 2014. We analyse financial and ownership data for the Slovak enterprises already included in onshore and offshore business, providing data by corporate service providers on the driving motives and their combination for the Slovak customers in 2014 and the available external data assessing the quality of the Slovak business environment. We present the empirical evidence that the motive of tax benefits is ranked as the most important, followed by the anonymity of the UBO, flexible arrangement of ownership relations, asset protection, asset management and trusteeship and special cases. In the second part of our research we provide empirical evidence on significant areas of the business environment affecting the number of newly established onshore and offshore companies by the Slovak enterprises between 2005 and 2014. The indicators assessing the quality of the Slovak business environment are divided into two groups - paying taxes plus doing business and the quality of the legal system in Slovakia. Our research shows that from the first group is insignificant only the indicator of time to comply with taxes. On the other side, the perception of corruption and the functionality of the state institutions are evaluated as significant from the second group.

Keywords: corporate structure, motives of onshore and offshore business, tax havens, tax optimization
JEL classification: F23, H25, H26

Published: April 1, 2017  Show citation

ACS AIP APA ASA Harvard Chicago Chicago Notes IEEE ISO690 MLA NLM Turabian Vancouver
Krištofík, P., Ištok, M., & Nedelová, G. (2017). Motives of Establishing of New Onshore and Offshore Companies by the Slovak Enterprises in 2014. Politická ekonomie, 65(2), 198-216. doi: 10.18267/j.polek.1136
Download citation
  • BibTeX (.bib)
  • Bookends (.ris)
  • EasyBib (.ris)
  • EndNote (.enw)
  • EndNote 8 (.xml)
  • ISI WoS (.isi)
  • Medlars (.medlars)
  • Mendeley (.ris)
  • MODS (.xml)
  • Papers (.ris)
  • RefWorks (.txt)
  • RefManager (.ris)
  • RIS (.ris)
  • MS Word (.xml)
  • Zotero (.ris)
    • Open full article

    References

    1. Akont (2015a). Korporátní struktury. Praha: Akont. Dostupné z: http://www.akont.cz/sluzby/korporatni-struktury.html
    2. Akont (2015b). GATCA - Globální automatická výměna informací o zahraničních účtech. Praha: Akont. Dostupné z: https://www.akont.cz/nase-znalosti/prispevky.html/83_2155-gatca-globalni-automaticka-vymena-informaci-o-zahranicnich-uctech-/1
    3. Bisnode (2015). Záujem o daňové raje sa opäť zvyšuje. Zaradí sa Lotyšsko medzi najatraktívnejšie destinácie? Bratislava: Bisnode. Dostupné z: http://www.bisnode.sk/tiskove-zpravy/zaujem-o-danove-raje-sa-opat-zvysuje-zaradi-sa-lotyssko-medzi-najatraktivnejsie-destinacie/
    4. Bisnode (2016). Daňové raje prekvapili. Cyprus dohnal straty, pribudli mu desiatky firiem. Bratislava: Bisnode. Dostupné z: http:// http://www.bisnode.sk/tiskove-zpravy/danove-raje-prekvapili-cyprus-dohnal-straty-pribudli-mu-desiatky-firiem/
    5. Bucovetsky, S., Haufler, A. (2008). Tax Competition When Firms Choose Their Organizational Form: Should tax Loopholes for Multinationals Be Closed? Journal of International Economics, 74 (1), 188-201, https://doi.org/10.1016/j.jinteco.2007.06.001. Go to original source...
    6. Business Alliance of Slovakia. (2015). Index podnikateľského prostredia. Bratislava: Business Alliance of Slovakia. Dostupné z: http://alianciapas.sk/category/pravidelne_aktivity /index_podnikatelskeho_prostredia
    7. Desai, M., A., Dharmapala, D. (2006). Corporate Tax Avoidance and High-powered Incentives. Journal of Financial Economics, 79 (1), 145-179. Go to original source...
    8. Davies, R., B., Nordback, P., Tekin-Koru, A. (2010). The Effect of tax Treaties on Multinational Firms: New Evidence from Microdata. Research Institute of Industrial Economics. Stockholm Working Paper No. 833, https://doi.org/10.2139/ssrn.1752943. Go to original source...
    9. Desai, A., Foley, F., Hines, J. (2004). A Multinational Perspective on Capital Structure Choice and Internal Capital Markets. Journal of Finance, 59 (6), 2451-87, https://doi.org/10.1111/j.1540-6261.2004.00706.x Go to original source...
    10. Desai, A., Foley, F., Hines, J. (2006). The Demand for Tax Haven Operations. Journal of Public Economics, 90 (3), 513-531, https://doi.org/10.1016/j.jpubeco.2005.04.004 Go to original source...
    11. Dědina, J., Malý, M. (2005). Moderní organizační architektura. Praha: Alfa publishing. ISBN 80-86851-11-7.
    12. Dharamapala, D. (2008). What Problems and Opportunities are Created by Tax Heavens? Cicago: University of Chicago Law school. Dostupné z: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1279146
    13. Erickson, S., Maydew, E., L., Scholes, M., S., Shevlin, T., Wolfson, M., A. (2009). Taxes and Business Strategy - A Planning Approach. New Jersey: Pearson Prentice Hall. ISBN 978-0-13-603315-8.
    14. European Commision. (2013). Porovnávací prehľad súdnictva v EÚ: Európska komisia rozširuje rozsah svojej analýzy právnych systémov členských štátov. Bratislava: Európska Komisia. Dostupné z: http://europa.eu/rapid/press-release_IP-13-285_sk.htm
    15. Graham, J., R. (2005). Taxes and Corporate Finance. Duke: Duke University and NBER. Dostupné z: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=358580
    16. Graham, J., R., Tucker, A., L. (2006). Tax Shelters and Corporate Debt Policy. Journal of Financial Economics, 81 (3), 563-594, https://doi.org/10.1016/j.jfineco.2005.09.002 Go to original source...
    17. Hasseldine, J., Holland K., Rijt, P. (2011). The Market for Corporate Tax Knowledge. Critical Perspectives on Accounting, 22 (1), 39-52, https://doi.org/10.1016/j.cpa.2010.06.019 Go to original source...
    18. Hong, O., Smart. M. (2010). In Praise of Tax Havens: International Tax Planning and Foreign Direct Investment. European Economic Review, 54 (1), 82-95, , https://doi.org/10.1016/j.euroecorev.2009.06.006 Go to original source...
    19. Huseynov, F., Klamm, B. (2012). Tax Avoidance, Tax Management and Corporate Social Responsibility. Journal of Corporate Finance, 18 (4), 804-27, , https://doi.org/10.1016/j.jcorpfin.2012.06.005 Go to original source...
    20. Ištok, M., Krištofík, P. (2016). Analýza dostupných dát o slovenských podnikoch zapojených do onshore a offshore podnikania v rokoch 2005 - 2014. In Podniková revue, 15 (35). Košice : Ekonomická univerzita, Podnikovohospodárska fakulta, pp. 23-37, ISSN 1335-9746.
    21. Janský, P., Kokeš, O. (2015). Corporate Tax Base Erosion and Profit Shifting Out of the Czech republic. Post-Communist Economies, 27 (4), 537-46, https://doi.org/10.1080/14631377.2015.1084733 Go to original source...
    22. Lev, B., Nissim, D. (2004). Taxable Income, Future Earnings and Equity Values. The Accounting Review, 79 (4), 1039-1074, https://doi.org/10.2308/accr.2004.79.4.1039 Go to original source...
    23. Manzon, G., B., Plesko, G., A. (2001). The Relationship Between Financial and Tax Reporting Measures of Income. Connesticut: University of Connecticut School of Business. Dostupné z: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=264112 Go to original source...
    24. Ministerstvo Spravodlivosti SR. (2015). Štatistika - súdy. Bratislava. Dostupné z: https://www.justice.gov.sk/Stranky/Sudy/Statistika-sudy.aspx
    25. Minnick, K., Noga, T. (2010). Do Corporate Governance Characteristics Influence Tax Management? Journal of Corporate Finance, 16 (5), 703-18, , https://doi.org/10.1016/j.jcorpfin.2010.08.005 Go to original source...
    26. Mintz, J., Weichenrieder, A. J. (2006). What Determines of the Use of Holding Companies and Ownership Chains? Toronto: J.W.Goethe Universitat and Rotman School of Management Toronto. Dostupné z: http://www.quant.jobs/sites/default/files/Business_Taxation/ Events/conferences/2007/weichenrieder-paper.pdf
    27. Picciotto, S. (2012). Towards Unitary Taxation of Transnational Corporations. New York: Tax Justice Network. Dostupné z: http://www.taxjustice.net/cms/upload/pdf/Towards_Unitary_Taxation_1-1.pdf
    28. Rada Európskej únie (2015). Smernica Európskeho parlamentu a Rady EÚ 2015/849 o predchádzaní využívaniu finančného systému na účely prania špinavých peňazí alebo financovania terorizmu. Dostupné z: http://eur-lex.europa.eu/legal-content/SK/TXT/PDF/?uri=CELEX:32015L0849&from=SK
    29. Shackelford, D., A., Shevlin, T. (2001). Empirical Tax Research in Accounting. Journal of Accounting and Economics, 31 (1-3), 321-387, https://doi.org/10.1016/S0165-4101(01)00022-2 Go to original source...
    30. Sharman, J. C. (2010). Shopping for Anonymous Shell Companies: An Audit Study of Anonymity and Crime in the International Finance System. Journal of Economic Perspectives, 24 (4), 127-140, https://doi.org/10.1257/jep.24.4.127 Go to original source...
    31. Sharman, J. C. (2011). Testing the Global Transparency Regime. International Studies Quaterly, 55 (4), 981-1001. Go to original source...
    32. Sikka, P., Willmott, H. (2010). The Dark Side of Transfer Pricing: Its Role in Tax Avoidance and Wealth Retentiveness. Critical Perspectives on Accounting, 21 (4), 342-356, https://doi.org/10.1016/j.cpa.2010.02.004 Go to original source...
    33. Steward, J. (2005). Fiscal Incentives, Corporate Structure and Financial Aspects of Treasury Management Operations. Accounting Forum, 29 (3), 271-288 , https://doi.org/10.1016/j.accfor.2005.03.001 Go to original source...
    34. Transparency International (2015). Corruption Perceptions Index. Berlin: Transparency international. Dostupné z: http://www.transparency.org/research/cpi/overview
    35. Weyzig, F. (2013). Tax Treaty Shopping: Structural Determinants of Foreign Direct Investment routed through the Netherlands. International Tax and Public Finance, 20 (6), 910-937, https://doi.org/10.1007/s10797-012-9250-z Go to original source...
    36. World Bank Group, PWC. (2014). Paying taxes 2014. Washington: World Bank Group. Dostupné z:
    37. Terrinvest. (2015). Offshore podnikání. Praha: Terrinvest. Dostupné z: http://www.danovyraj.cz/offshore-podnikani
    38. Zákon č. 297/2008 Z. z., o ochrane pred legalizáciou príjmov z trestnej činnosti a ochrane pred financovaním terorizmu v znení neskorších predpisov.

    This is an open access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY NC ND 4.0), which permits non-comercial use, distribution, and reproduction in any medium, provided the original publication is properly cited. No use, distribution or reproduction is permitted which does not comply with these terms.


    Return to the content