AmCham has always been active in bringing new topics and issues in the policy area that are highly relevant for its member companies. Based on discussion with many of our members, we intend to take an active approach in addressing issues connected to the Shadow Economy.
The Shadow Economy in Slovakia increased after the onset of the global economic crisis and, despite the progress, the public sector is still struggling in its fight against tax evasion and counterfeit goods – the two main issues within the Shadow Economy. In 2014, the Shadow Economy amounted to approximately 14.8% of Slovak GDP. Slovakia has therefore lost €2.1 billion which could have been used to the benefit of the public.
The Shadow Economy Task Force will provide an active platform for dialogue with state representatives and other relevant stakeholders on topics such as:
1. Counterfeit Goods and Consumer Protection – How can we more effectively tackle counterfeit goods and thus boost consumer protection and ensure fair competition on the market?
2. Shadow Economy and Cost of Cash – How can we stimulate electronic payments in public and private sector, reducing cost of cash to businesses and state?
3. Tax Policy – How can we set a fair and incentive-based tax policy which will reduce the shadow economy and tax-evading behavior?
4. Law Enforcement – What can be done to improve capabilities of enforcement authorities (police, customs, courts...) in fight against shadow economy?
We believe that a level playing field on the market and consumer protection as well as a functioning tax system and fight against illicit trade are of common interest of both the business community and public institutions.
Join this new expert group and share with us your opinion on the topic of the Shadow Economy and particular issues that affect your business.
We look forward to meeting many of you personally at the first meeting! Please do not hesitate to contact Michal Krčméry at email@example.com or +421-902-912001 should you have any questions or further comments.