Fri, 10 February 2012
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These are busy times for the Dutch Tax Administration. Not only must it process the annual tax returns, but it must also deal with the numerous Dutch citizens who have voluntarily disclosed details of their holdings in foreign bank accounts.In just the past couple of weeks, this has amounted to 24 milllion euro. And the picture's the same elsewhere in Europe. The financial crisis has put the tax havens under pressure.
For years the EU countries have carried out tough and difficult negotiations with the traditional tax havens such as Liechtenstein and Switzerland. But suddenly, one after another, in recent months they have decided they want to come clean.
Monaco, Austria, Switzerland, Luxembourg, Andorra and Liechtenstein have all stood in line with the message that they want to cooperate with other countries in the fight against money laundering. At a stroke, the cherished notion of banking secrecy is no longer sacred.
Tax havens afraid
One consequence of the credit crisis is that people living in the tax havens are afraid that soon all the foreign bank accounts will disappear, says Dutch tax advisor Emile Bunk:
"Times have changed, and you see that a whole load of countries are experiencing problems as a result of the recession. And of course, the world's banks are not exactly doing well. I think that's also the reason why the residents of the tax havens are more and more urging their governments to take the necessary measures."
Repentance
Dutch Deputy Minister of Finance Cees de Jager admits that so far there are no new agreements with the tax havens, but that negotiations are taking place at all sorts of levels. The result is that many people are looking for a new nest for their money and are making use of the so-called "repentance regulation."
Under this regulation, people who voluntarily submit a declaration of their foreign bank accounts and assets do not receive a penalty, but have to pay tax retrospectively.
Over a period of twelve years they still have to pay capital gains tax, or the interest on their assets will be taxed.
"In the last couple of weeks alone, 24 million euro has come in," says the deputy minister.
But what exactly is going to change if new agreements with the tax havens are sealed? It principally concerns tax evasion. In the Netherlands this is liable to punishment, but for the Swiss it's not a criminal offence.
The problem at the moment for the Dutch Treasury is that it must have serious suspicions about someone, or far-reaching indications of criminal activity, before Swiss banks will release information.
The burden of proof will soon be less heavy, provided the negotiations are successful.
Banking secrecy
But Switzerland still won't put a price on its banking secrecy, and it has no plans to do so, only to relax it slightly. What the EU countries want eventually is the total removal of banking secrecy.
The Organisation for Economic Cooperation and Development (OECD), has therefore formulated some ground rules.
Radio Netherlands
State Board Of Equalization,
Investigation Division,
450 N. Street,
P.O.Box:942879 MIC:42
This is to inform you that many residents/citizens of the Netherland living across the cities are openly and blatantly indulging in anti-social,disruptive and illegal activities causing fear and uncertainty in the minds of several law abiding and peace loving people and causing tremendous loss to public exchequer, which infact is a national loss. As a true patriot and committed official you would not tolerate it and let the culprits be brought to book and thus suitably be punished. They are indulging in extorting money through sheer muscle power and give threats to people if they don’t oblige both of these goons.The heads of this illegal gang of goons are none other than Idris and Farooq whose contact No. are: 641480177 and 641397952.You can trace their addresss and other details through these mobile numbers.One of them has got two wives.In this age of high rising prices how can one dream of running two families unless he has unknown source of income and paying no income tax.
Apparently they pretend to work for some company or the other.But their real motive is to get finances from abroad and live lavishly.It can be seen in their life style, their houses and the houses of their children who also live aristocratic life.This is sufficient to prove that they possess movable and immovable property which is disproportionate to their known source of income.How and where from this money came to them is to be ascertained by law enforcing agencies of the state.
They also carry out illegal interior renovation work at cheaper prices in various houses and thus indulge in tax evasion.They neither possess any degree/diploma nor are registered with the concerned government agency to carry on or run such business.If timely remedial measures are not initiated they can get success in disturbing peaceful and law abiding society of our great country.
Hope and trust that you would kindly initiate action to bring them to book and to let peace loving people live with peace of mind.
State Board Of Equalization,
Investigation Division,
450 N. Street,
P.O.Box:942879 MIC:42
This is to inform you that many residents/citizens of the Netherland living across the cities are openly and blatantly indulging in anti-social,disruptive and illegal activities causing fear and uncertainty in the minds of several law abiding and peace loving people and causing tremendous loss to public exchequer, which infact is a national loss. As a true patriot and committed official you would not tolerate it and let the culprits be brought to book and thus suitably be punished. They are indulging in extorting money through sheer muscle power and give threats to people if they don’t oblige both of these goons.The heads of this illegal gang of goons are none other than Idris and Farooq whose contact No. are: 641480177 and 641397952.You can trace their addresss and other details through these mobile numbers.One of them has got two wives.In this age of high rising prices how can one dream of running two families unless he has unknown source of income and paying no income tax.
Apparently they pretend to work for some company or the other.But their real motive is to get finances from abroad and live lavishly.It can be seen in their life style, their houses and the houses of their children who also live aristocratic life.This is sufficient to prove that they possess movable and immovable property which is disproportionate to their known source of income.How and where from this money came to them is to be ascertained by law enforcing agencies of the state.
They also carry out illegal interior renovation work at cheaper prices in various houses and thus indulge in tax evasion.They neither possess any degree/diploma nor are registered with the concerned government agency to carry on or run such business.If timely remedial measures are not initiated they can get success in disturbing peaceful and law abiding society of our great country.
Hope and trust that you would kindly initiate action to bring them to book and to let peace loving people live with peace of mind.
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