Submit a voluntary declaration leading to immunity for tax evasion while you still can
A lot of tax evaders have already taken advantage of the opportunity to submit a voluntary declaration leading to immunity. While the number of voluntary declarations has dropped significantly since the requirements associated with voluntary disclosure became more stringent as of January 1, 2015, it is still a viable option. We at the law firm GRP Rainer Rechtsanwälte note that for a voluntary declaration to be capable of leading to immunity, it needs fulfil various criteria. It has to be submitted on time, i.e. before the tax evasion is detected by the authorities, complete and free from errors.
It is only when these criteria have been fulfilled that a voluntary declaration can lead to immunity. It is still assumed that untaxed income is being concealed from the exchequer in foreign accounts, e.g. in Switzerland, Austria as well as in other former tax havens. However, the risk of these illicit funds being discovered has increased appreciably, not least due to the automatic exchange of financial information among more than 100 countries. For tax dodgers with illicit funds in foreign accounts, this means that they need to take action if they still wish to submit a voluntary declaration and return to a state of tax compliance.
In order for a voluntary declaration to be complete, it must include all information that is relevant from a tax perspective from the past ten years and disclose this to the competent tax office. That is why it is important to carefully consider each individual case; there is no standard solution when it comes to voluntary disclosure. Those who nonetheless forego qualified assistance when preparing a voluntary declaration and attempt to do so on their own or with the help of standard templates are taking a substantial risk that the voluntary declaration is incomplete and will thus fail. Should it come to this, there is still the very real prospect of a conviction for tax evasion despite the voluntary declaration. The latter can then only have a mitigating effect similar to a confession.
To prevent this from happening, lawyers who are experienced in the field of tax law ought to be tasked with preparing the voluntary declaration. They are able to carry out a detailed assessment of each individual case and know what information and documents need to be included in the voluntary declaration for it to be capable of leading to immunity.
GRP Rainer LLP www.grprainer.com/en/ is an international firm of lawyers and tax advisors who are specialists in commercial law. The firm counsels commercial and industrial companies and corporations, as well as associations, small- and mid-sized businesses, self-employed freelancers and private individuals worldwide from offices Cologne, Berlin, Bonn, Dusseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London UK.
Contact Michael Rainer
Lawyer, Managing Partner
GRP Rainer LLP
Phone: +49 221-27 22 75-0
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Submit a voluntary declaration leading to immunity for tax evasion while you still can here
News-ID: 667507 • Views: 1489
More Releases from GRP Rainer LLP
GRP Rainer Rechtsanwälte – Experience in establishing companies
Choosing the right corporate form when establishing a company can contribute a great deal to the economic success of the business. We at the commercial law firm GRP Rainer Rechtsanwälte advise numerous businesses on company formation and takeovers as well as in the event of a change of partners or shareholders. In our experience, the partners or shareholders frequently neglect one critical point amidst all the euphoria: choosing the right corporate
OLG Köln: Will written with non-dominant hand valid
It is possible for a will to be valid even if it was written with the hand one does not normally write with. That was the verdict of the Oberlandesgericht (OLG) Köln [Higher Regional Court of Cologne] in its ruling of August 3, 2017 (Az.: 2 Wx 149/17). In addition to preparing a notarized will, a testamentary disposition can also be handwritten. To this end, the will needs to be written
OLG Köln: Only serious misconduct justifies withdrawal from contract of inherit …
Apart from a will, it is also possible to prepare a contract of inheritance as a way of organizing one’s estate. It should be noted, however, that a contract of inheritance has a significantly stronger binding effect. In the absence of a will or contract of inheritance, the rules of intestate succession apply automatically following the death of the testator. If these run contrary to the testator’s wishes, a testamentary disposition
Commercial agent’s claim for compensation following voluntary termination
A commercial agent may even be entitled to compensation if he or she voluntarily issues notice of termination. However, the company’s conduct needs to give rise to legitimate grounds for termination for this to happen. When a commercial agency agreement is brought to an end, the commercial agent often has a right to compensation. This is because the company in a lot of cases continues to profit from the client contacts
More Releases for Cologne
Bartha Contemporary at Art Cologne 2017
Bartha Contemporary is pleased to announce their participation at the 2017 edition of Art Cologne. The presentation will feature a solo-exhibition of works by Alan Johnson from the 1970’s to the present day. Alan Johnston’s presentation at Art Cologne will feature works made over the past five decades. Since his first solo exhibition at Konrad Fischer in Düsseldorf in 1973, Johnston has continuously exhibited internationally. Indeed the exhibitions at Art
VernissageTV at Art Cologne 2011
VernissageTV covers Art Cologne 2011 art fair and shows video art Basel, April 5, 2011 – As media partner of Art Cologne, VernissageTV art tv will cover Art Cologne 2011. The fair for modern and contemporary art will take place in Cologne, Germany from 13th to 17th April 2011. VernissageTV will provide its viewers with atmospheric shots from the fair, recordings of art talks, and in-depth interviews with artists, curators
Launching of Attracting Women Cologne
http://www.AttractingWomenCologne.com was recently launched on 2nd October, 2010. The main objective of this site is to help man to attract ladies by using a special kind of cologne. Nowadays, a lot of men are facing trouble to get women. Some fail because they are shy, some fail because they don't know how and some did try but never succeed. In seeing this problem, the AttractingWomenCologne e-store was launched in order to
WDR Cologne uses Teracue IPTV Encoder/Decoder
Live contribution of Cologne Cathedral and Rhine view into WDR's central broadcast infrastructure The West German broadcasting company (Westdeutscher Rundfunk - WDR) in Cologne uses IPTV encoder and decoder from Teracue to integrate live panorama images into their broadcast process. The WDR has installed a remote controlled camera in a weatherproof housing on a high-rise building on the eastern side of the Rhine river in Köln Deutz - opposite of the Cologne Cathedral. The camera can
Beta Klinik donates defibrillator to Cologne Golfers
Bonn, Germany. If the heart stops beating or its regular rhythm is interrupted, a defibrillator can save lives. Such a portable life-saver was given to Andy Clark of Clark´s Golfworld by Beta Klink. Not only visitors of the golf shop benefit from it but also all sportsmen and -women of the Golf Club Ford Cologne and the Public Golf Course Cologne, which is run by Clark. From time to time it
Bartha Contemporary at Art Cologne 2010
Bartha Contemporary London is pleased to announce the participation at Art Cologne – 44. Internationaler Kunstmarkt. The gallery showcase at Booth E30 in Hall 11 / Level 1, will feature seminal works by Jill Baroff, Benjamin Cottam, Clay Ketter and Beat Zoderer. The fair open’s on Tuesday April 20th and will run through to Sunday April 25th. Jill Baroff’s “Tide Drawings” and sets of “Floating Line Drawings” perfectly illustrate the