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Taxes – unpunished voluntary disclosure only accepted until 30. September 2018

Despite the introduction of the Automatic Exchange Of Information (AEOI) at the beginning of 2018, a unpunished voluntary disclosure is still possible.

 

With the introduction of the AEOI, foreign bank data of Swiss tax residents is unsolicited exchanged with the Swiss tax authorities. In the view of the tax authorities (e.g. canton of Zug and SFTA), it is assumed that foreign tax data will be available from 30. September 2018. As of this date, an unpunished voluntary disclosure can no longer be done of its own accord.

 

For an unpunished voluntary disclosure, the following cumulative conditions must be satisfied:

 

- the disclosure is for the first time and on one’s own initiative
- the tax evasion has not been discovered by the tax authorities at the time of disclosure
- the taxable person supports the authorities unconditionally
- the taxable person seriously seeks to pay the supplementary taxes

 

 

If all aforementioned conditions are met, the tax authorities will refrain from prosecuting. There are no fines for tax evasion or punishment for tax fraud. Only the supplementary taxes for the last ten years (including default interest) must be paid.

 

Anyone who still wants to post-declare untaxed assets or income in the context of an unpunished voluntary declaration must immediately take action to prepare the declaration, to coordinate it and submit it on time.

 

If you need further information, please do not hesitate to contact Cornelia Hager.

 

Kathrin Kühn 26. March 2018