Over 10,500 Czech companies are currently based in tax havens, according to a report by the company Bison. It bases the figures on a list of countries that the European Union claims offer unfair conditions to companies and do not cooperate on tax matters. Bison writes that Vietnam is the rising star among such countries and that 2,225 Czech companies are based there. Other countries favored by Czech businesses however include Switzerland (1,880 companies) and Serbia (1,109). In total, Czech companies in such companies have a combined asset value of CZK 61bn. Seventeen countries (including Bahrain, Grenada, Guam and South Korea) are on the EU’s blacklist, while there are 47 on a so-called greylist, having promised to improve cooperation with the EU. Blacklisted countries might be denied all financial aid from the EU.
