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Dutch Court Rules Against Offshore Account Holders

by Ulrika Lomas, Tax-News.com, Brussels

16 December 2008


The Netherlands Ministry of Finance has revealed that taxpayers who refused to disclose information regarding offshore accounts have recently been subject to judicial proceedings.

In the last few weeks, the Dutch tax and customs administration won their third case, with a taxpayer who had refused to provide information about a possible foreign bank account.

The various district courts not only judged that taxpayers have to provide the tax authorities with information about, among other things, bank account numbers and copies of bank statements, but also that the tax authorities may impose penalty payments if this does not take place. The court currently imposes penalty payments ranging from EUR2,000 to EUR5,000 per day up to a maximum of EUR50,000 to EUR500,000, depending on the offence.

It was also ruled that the bank account holders had to comply within seven days to provide the requested information, after which the information could be forcibly obtained. Two of the three taxpayers have already complied.

These actions are part of an investigation into foreign bank accounts which has seen the Tax and Customs Administration attempt to map non-reported foreign assets.


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