The Lior Pick & Co. law firm is very experienced in counseling, accompanying and arranging voluntary disclosure processes before the Israeli tax authorities. Voluntary disclosure allows the taxpayer to appeal to the tax authorities voluntarily to disclose foreign properties and income that weren’t duly reported.
Tax authorities give various incentives such as reliefs in fines, interests, and no criminal record, to encourage voluntary disclosure processes.
Failure to disclose may have fateful implications on the civil and the criminal level.
Until a few years ago, there was no procedure to explain and specify the terms of voluntary disclosure. Voluntary disclosure is a proceeding the tax authorities initiated to make taxpayers contact the tax authorities willingly before they contact them, a second chance for the taxpayer to right his wrongs.
Please note that voluntary disclosure is only possible if the tax authority didn’t yet appeal to the taxpayer and start an overt or covert investigation against him/her, and only if the authority has no prior information on the taxpayer and his/her assets.
Our firm is very experienced in accompanying taxpayers in voluntary disclosure proceedings and has had many successes in explaining the issue in the most beneficial way while obtaining immunity from criminal proceedings for the clients.