The Netherlands tax office has set up an email and telephone help-line for people with untaxed savings in foreign bank accounts. Since the beginning of the year, more than 2,100 taxpayers have taken advantage of an amnesty scheme, which allows them to declare previously untaxed funds and pay the tax with a surcharge but without fines or criminal prosecution.
So far this year, EUR463m of funds in foreign accounts have been regularized and taxed under the scheme. The telephone and email lines allow the public to obtain information and advice on the scheme on an anonymous basis. A voluntary declaration form can be downloaded from the tax office (belastingdienst) website.
This April, junior finance minister, Jan Kees de Jager, announced that the fine for people found to have undeclared offshore bank accounts is to be increased to three times the amount of the undeclared savings. People also risk having all of the money confiscated by the tax authorities.
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