If undeclared savings come to the tax inspector’s attention the taxpayer will incur a maximum penalty of 300% in addition to paying the taxes for the past 12 years including legal interest. If the money undeclared has been in The Netherlands all this time – such as cash – taxes are only due for the past 5 years.
However, there is a solution. If you declare your assets voluntarily using the amnesty ruling, the penalty is reduced substantially. The amnesty ruling makes it possible to legalize undeclared capital such as bank accounts, shares, property abroad and other investments.
Finally we should mention that if you have the 30% ruling you have most likely correctly not declared your assets. In this situation you would have opted for partial non-domestic taxation in which case you do not have to declare any assets in box 3 with the exemption of Dutch real estate.
When is it recommendable to hire an amnesty ruling expert?
- If you have undeclared assets, bank accounts, property or foreign income;
- If you have a house abroad and didn’t declare it;
- If you received property by inheritance;
- If your 30% ruling is ending and you want advice on how to declare your worldwide income;
- If you received a letter from a foreign bank asking your residence, or tax aspects and/or your CRS Status;
- If you are in possession of undeclared money.
In the situations mentioned, it is wise to let an international tax advisor who has experience with the amnesty ruling, have a look at your situation. We can advise you on the possibilities and help to reduce the tax penalty as well as the due tax.
How can we help you?
Suurmond Tax-Consultants has been advising expats and individuals for more than 35 years. After contacting us it will become clear whether we are the right party to help you.
In a contactform or an e-mail you can explain your situation and ask us any questions you may have. Your situations will be looked at by one of our advisors. On the basis of this, the tax advisor will come back to you for further details. Our hourly rate ranges from €245 excl. 21% VAT.
If you agree, then the advisor will look at the different aspects which apply to your situation and which elements are important to work on. Then a proposal is made with all the elements included on which you need advice and guidance.
After this, we will update you on the amount of hours which we expect will be required. It is not always easy to make an accurate estimate as we are dependent on information and details from your side as well. In addition, how your case will proceed depends on the response of the tax inspector as well to our argument. If required, a consultation can be set up online or at our office.
The importance of hiring an amnesty ruling expert
If you live in The Netherlands and have assets, savings or property abroad, you will want to know for certain that what you are doing is done correctly, as you must be compliant. The Tax Office can impose high penalties if your affairs aren’t in order and correctly presented.
Our office can do the negotiations for you and present your situation in the best possible way. We have done this for many new clients as specialist tax advisor and our way of presenting this to the tax inspector is well received.
Our office has guided tax payers through this labyrinth since 2001 and made money abroad freely available while at the same time reducing taxation as much as possible. Please contact us and we will gladly investigate the possibilities in your situation.
Read more about the voluntory disclosure scheme here.
Who are Suurmond Tax Consultants
Since 1986 expat and business tax advice in relation to the Netherlands is one of our expertises we provide to our individual and/ or business clients.
In addition, we can also assist in a variety of other cross-border situations. We will ensure you are compliant as well as pay no more tax than needed. Examples include advising clients as to starting a business in The Netherlands, accounting, property tax, and amnesty ruling. We file all types of tax returns and specialise for example in the 30% ruling and 183-days rule consequences. The value we can add with our fiscal advice, is a key focus point to us. Also, what should not be overlooked, is the fact that a correct tax return will prevent future issues and penalties. This is essential when moving to a new country, or when setting up a business in a new country.