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Current Legal Situation on Voluntary Disclosure
Tightening of Requirements
The legal regulations on penalty-free voluntary disclosure and the waiver of prosecution in special cases were further tightened as of January 1, 2015. Key highlights include the following tax regulations and areas:
- The suspension of the start of the statute of limitations for undeclared foreign capital income.
- The adjustment of blocking reasons for penalty-free voluntary disclosure by lowering the threshold to EUR 25,000.
- The inclusion of evasion interest as a requirement for effective penalty-free voluntary disclosure.
- The extension of the completeness requirement to ten years in all cases of tax evasion.
- The graduated surcharge depending on the volume of evasion.
However, it is crucial to note that penalty-free voluntary disclosure remains possible. We provide comprehensive information on the requirements. We have extensive experience in disclosing foreign assets and have successfully declared well over 200 foreign accounts without exception.