Voluntary Disclosure

Kerstin Beck-Ulmer

 

Voluntary disclosures are "en vogue". The reasons for this trend are inter alia tax fraud proceedings against celebrities and the purchase of CDs containing information of presumed tax evaders in neighboring Germany as well as the so called Swissleak-revelations, which have lead to general public discussions about tax ethics.

International developments as the automatic exchange of information are approaching fast. The first exchange of information is to be expected for 2018.

On Swiss national level, the Federal Act on the implementation of the revised recommendations of the financial action task force (GAFI), which amongst other things rules a qualified tax fraud as predicate offence for money laundering, enters into force as per 1 January 2016.

The following article (in German) explains the tougher conditions for a voluntary disclosure in Germany applicable since 1 January 2015 and shows why a correctly "de lege artis" prepared voluntary disclosure is still advisable for German taxpayers and their Swiss banks.  

Voluntary disclosure in Germany (in German)

 

 

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