Voluntary Disclosure

Holding a bank account abroad? Haven't reported rental income? Other income not declared?  Until early September may be submitted to the tax authority of voluntary disclosure requests anonymity.
 
According to the temporary, taxpayer could reveal his assets and declare their income not reported, pay the tax derived from them provided that they meet the conditions specified in the procedure. Among other conditions, there is a requirement that the request was made honestly and in good faith and that no referral is held at the time of inspection or investigation in the Tax Authority in the case of the applicant.

 

 The Tax Authority is committed, with the approval of the State Attorney's Office, No criminal action be taken against those taxpayers who qualify procedure and pay the full tax that is derived from the process of disclosure. Therefore, the Tax Authority calls for taxpayers to take advantage of the "window of opportunity", which will be open for one year, as stated (until 07/09/15), and to report to the tax authority before it began testing or investigating.

 

 

In view of the deepening black capital collection and recently signing agreements with new international information exchange, we recommend voluntary disclosure of income, assets and accounts abroad and in Israel that were not reported to the tax authorities, as a pre-cure. Please contact our office to coordinate an urgent meeting with discrete topic.