|Leading Professional Contributors|
Dr Andreas Richter, P+P Pöllath + Partners
Stricter requirements for the voluntary self-disclosure of tax evasion in Germany
The German Fiscal Code provides for the possibility of a voluntary self-disclosure. Taxpayers are able to correct or complete their own incorrect tax returns or furnish relevant information previously omitted. In such cases, the taxpayer will be exempt from criminal prosecution for tax evasion in respect of those previously incorrect, incomplete, or omitted particulars. As a consequence of the ongoing media coverage of prominent tax evaders in Germany, representatives of federal and state revenue authorities have agreed on stricter requirements for voluntary self-disclosure. Such new requirements could enter into force on January 1, 2015.
THIS WEEK'S TOP STORIES
PAM (Private Asset Managers) and its sister website PAMonline combine to provide "...the best guide available to the leading firms in private client fund management" (FINANCIAL TIMES). PAM compares managers on a level playing field by key data such as fees and charges, minimum investment thresholds and so on.