FURS Issues €3.6m Tax Requests for International Bank Accounts

By , 25 Oct 2018, 14:30 PM Business
FURS Issues €3.6m Tax Requests for International Bank Accounts Flickr - West Midlands Police CC-by-2.0

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STA, 24 October 2018 - The Financial Administration (FURS) has processed the data on international bank accounts of Slovenian citizens it had received by the end of September 2017 from the countries signatories of the relevant OECD agreement from 2014, and has issued on this basis a total of EUR 3.6m in tax requests. 

The agreement on the automatic exchange of information for tax purposes between the competent authorities in the signatories was struck on the sidelines of the OECD forum in Berlin by finance ministers of more than 50 countries and jurisdictions, including Slovenia's Dušan Mramor.

The first data based on the agreement, referring to the situation on 31 December 2016, was sent to Slovenia last September. FURS has so far received information about 27,940 accounts from 35 countries, identifying a total of 14,202 persons liable for taxation who own a total of 23,021 accounts.

Irregularities have been established in around 1,400 cases, and an additional EUR 3.6m in tax has been charged, FURS reported on Wednesday.

A certain number of individuals have not reported their international accounts and revenue on these accounts to FURS, which said it would soon inform around 10,000 individuals that they need to report their international accounts.

"In the initial period of the data exchange we want to enable the taxpayers to meet their obligations as easy as possible," FURS said, adding that it would not take many repressive measures, at least not for the time being.

Among the established irregularities, FURS singled out cases of fictitious sales of business stakes, which were actually payments of capital gains.

In such cases, legal entities from abroad which act as buyers of a business stake are actually owned by individuals who act in Slovenia as sellers of the stake.

A number of tax debtors have realised only now that they own an account abroad, FURS said, adding that it had already sent requests for international legal aid to collect around EUR 5m in tax they owed.

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