Tax and Customs Administration renews search for people not declaring savings

Hundreds of people will again, in the time to come, receive a letter from the Tax and Customs Administration in which they are asked to provide clarification about their foreign bank accounts.

As a result of recent information received both from within the country as from abroad about Dutchmen who possibly do not declare their savings the Tax Department has initiated various new projects. Also internet information is being used.

State Secretary of Finance Weekers: "While most people decently file their tax return and pay, there is a small group of people who think they can escape paying tax through foreign accounts: I want the Tax and Customs Administration to tackle them head on."

CD-rom from France
At the end of last year, a delegation of the Tax and Customs Administration received a CD-rom at the French Ministry of Finance containing data of Dutch people with a Swiss bank account. This took place on the basis of the information exchange agreement between the Netherlands and France.
Analysis of the data, including bank account numbers, has shown that the information is sufficiently reliable to send a letter to the account holders. At the same time the French authorities provided data of legal persons established in the Netherlands Antilles as private foundations which are managing hundreds of thousands up to millions of euros. The Tax and Customs Administration is also going to check this with the authorities. Earlier on, the Antilles already indicated that they wish to cooperate with the investigation into the legal persons involved with these private foundations.

Information from criminal investigation
Also information resulting from criminal investigation has been provided to the Tax and Customs Administration. This, too, involves people liable to pay tax who have lodged funds in foreign legal entities and on Swiss bank accounts.

Revenue from voluntary disclosure in 2010
In 2010 more than one thousand people voluntarily disclosed their foreign accounts to the Tax and Customs Administration. They voluntarily disclosed more than € 250 million in assets. Even after the introduction of the increased standard fine of 30 % as from 1 July 2010, a few hundred savers still voluntarily reported themselves. People taking the risk not to disclose their foreign assets to the Tax Department risk fines of up to 300 % over the tax due. In the time to come the Tax and Customs Administration will keep on the lookout for people who do not disclose their savings.