Legal advice on the subsequent declaration of capital income

Subsequent declaration of capital income to the tax office: Due to the ever-increasing stricter legal regulations and the one due to start soon international exchange of information it is advisable to contact undeclared investment income to disclose this to the tax authorities in good time. This makes it possible, on the one hand, Gained immunity from prosecution, but on the other hand also the Estate free of encumbrances be passed on to the next generation. With us, you can expect comprehensive support: from the initial consultation through to gathering the necessary documents, corresponding with all relevant authorities, determining capital gains and other income, right through to submitting a voluntary disclosure and the suspension or conclusion of the proceedings.

Despite the media attention surrounding the numerous cases of tax evasion by prominent figures, the purchase of data CDs and the tightening of the rules on voluntary disclosure to avoid prosecution, it can be assumed that: Foreign accounts, investment portfolios and other assets from which taxable (capital) income is derived are still, for the most part, being kept secret from the tax authorities.

In Germany, on the other hand, it has become much more difficult to keep investment income secret due to the flat-rate withholding tax introduced in 2009. Nevertheless, domestic scenarios are also conceivable and do occur time and again, for example in the case of so-called ‘Tafelpapiere’ or loans granted by private individuals or companies.

Hidden sources of income abroad

Many sources of foreign income are shielded by so-called letterbox companies or by foundations and trusts set up for this purpose, in such a way that the actual beneficiary is not readily apparent. To this end, trustees are generally appointed who act as managing directors or foundation bodies in dealings with the outside world, rather than the person to whom the assets and income are ultimately economically attributable.

In particular, a not inconsiderable proportion of the assets of the current generation of pensioners – who, thanks to the economic miracle, have in some cases achieved a high standard of living – has been transferred abroad. This was likely often done on the advice of financial and banking advisers. This is made clear by the fines imposed on major banks, which are repeatedly coming to light.

Are you looking for clarity? An interdisciplinary A team of specialist solicitors, qualified lawyers and tax advisers produces them. Your point of contact for all matters relating to criminal tax law is Matthias E. Grimme, solicitor, specialist in tax law and tax adviser.