Tax Amnesty

Letzte Beiträge zum Thema Tax Amnesty

  1. Turkey: Tax amnesty for Turkish residents entered into force
  2. Argentine voluntary disclosure program/tax amnesty running
  3. Indonesia launches a temporary Voluntary Disclosure Program

Turkey: Tax amnesty for Turkish residents entered into force

With the promulgation of the Law No. 6736 in the Official Gazette of Turkey on August, 19, 2016 expected Turkish tax amnesty/Voluntary Disclosure Program has entered into force.

The program provides amnesty from various tax and other penalties for persons whom did not report their assets located outside Turkey (cash, gold, securities, other capital market instruments), if the conditions of the program are met. To benefit from the amnesty, taxpayers have to repatriate their assets into Turkey following to the declaration. The program closes on Dezember 31, 2016.

For further information to the program please refer to our VDP Country Fact Sheet for Turkey.

Argentine voluntary disclosure program/tax amnesty running

With the promulgation of the Law  27.260 (Ley 27.260) in the Official Gazette of Argentina a temporary voluntary disclosure program/tax amnesty has been launched.

Applications have to be submitted to the Argentine tax administration Administración Federal de Ingresos Públicos(AFIP) by March 31, 2017. The program takes on its significance against the background of the introduction of the Automatic Exchange of Information (AEOI) which has already started for 54 of the 101 participating jurisdictions. The Argentine tax administration will receive in 2017 automatically tax relevant data about financial accounts collected in 2016. Therefore, the participation in the voluntary disclosure program/tax amnesty could be the last chance for non-compliant taxable persons to come forward and to regularize the past.

As regards the details of the program please refer to our updated VDP Country Fact Sheet for Argentina.