At Lior Pick & Co. Law Firm, we are 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 were not 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 that the tax authorities initiated. Taxpayers are encouraged to contact the tax authorities willingly. By doing this, taxpayers obtain a second chance to right their wrongs.
Voluntary disclosure is only possible if the tax authority has not yet appealed to the taxpayer and started 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 we have had many successes in explaining the issue in the most beneficial way while obtaining immunity from criminal proceedings for the clients.