Dutch State Secretary Jans De Jager has announced proposals to increase penalties threefold on taxpayers who fail to declare and settle unpaid taxes on balances held in foreign bank accounts.
De Jager has again encouraged those who have undeclared offshore accounts to come forward through the Netherland’s tax amnesty scheme, affording them a waiver from criminal prosecution and high fines. In a statement released at the end of March, De Jager welcomed an influx of taxpayers coming forward to settle existing tax debts but underlined there were several thousands more accounts yet to be declared.
The Dutch tax administration’s latest statement has revealed that since countries like Switzerland, Luxembourg and Liechtenstein have pledged to increase international cooperation, the number coming forward increased exponentially. 317 taxpayers have come forward in the first three months of 2009.
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