Anonymous Disclosure

Voluntary Disclosure is a term relating to self-initiated reporting to Tax Authorities for income originating outside the country, or any other income not automatically reported to Tax Authorities in Israel.

In case of such unreported income, it’s advisable to operate according to specific legal procedures after consulting a Tax Law expert.

Israelis with unreported income, either in Israel or outside, may be exposed to criminal proceedings for alleged tax offences.

Voluntary Disclosure proceedings are aimed at neutralizing criminal exposure in Israel.

Why Would You Need Voluntary Disclosure Proceedings?

You receive privileged treatment by the Tax Authorities when you choose this direct and voluntary approach.

Israeli Tax Authorities are currently promoting transparency, by encouraging you to rectify any wrong reporting. Once the case is approved and due taxes are paid, you are immune to criminal proceedings against you in this respect.

It is possible to disclose anonymously. Anonymous Voluntary Disclosure is often called the “no-name” method. In a no-name or anonymous disclosure, you are not identified on the initial disclosure submission. You will need to submit the same information as a named disclosure, excluding the name.

What FACTA Means to You

Foreign Account Tax Compliance Act

In 2010, FACTA – Foreign Account Tax Compliance Act was approved in the US. It imposed on banks and other financial institutes based outside the US, to report regarding accounts of US citizens held by these institutions. This law imposes heavy sanctions on refusing and non-cooperative bodies.

The Law imposes on banks worldwide to identify accounts of clients holding American citizenship. As a result, these financial institutions require that clients sign documents to a degree sufficient for reporting to US Tax Authorities regarding such accounts. The Law also provides that US citizens refusing to cooperate with the banks, may risk action by bankS closing their accounts and withholding 30% of specific income generated in these accounts.

What Happens if You Don’t Report?

It should be mentioned that non-reporting such accounts is regarded as a severe criminal offence bearing heavy sanctions, including incarceration and fines.

In the light of this threat, Israeli banks also issued new directives, indicating the transfer of information to US Tax Authorities, regarding US citizens running such accounts.

Do you have money in foreign accounts?
Do you own assets abroad?
Do you have an inheritance or trust abroad?

If they’ve not been fully reported in Israel, don’t wait for a COSTLY “knock on the door!”

Trust Funds

Have you set up a Trust Fund, or are you a beneficiary of a Trust Fund?

  • Did you know that after 2006, Trusts in general, are under a compulsory disclosure scheme and that they  must be disclosed and declared to the Israeli Tax Authorities?
  • Did you know that commencing January 1st, 2014, the disclosing requirements were even broadened, to include the duty of reporting regarding ALL trusts, in which there is an Israeli resident who is a beneficiary to that trust?

A crack in bank confidentiality worldwide has increased the risk of “dirtied” proceeds from Trusts coming to light, and resulting in criminal proceedings against those Israelis who have not declared.

Doron-Tikotzky Trust Disclosure Management can also save you from having to pay Estate Tax.

Our Voluntary Disclosure Specialists Will Help You

In order to submit a request for Voluntary Disclosure, whether referring to income earned in Israel or abroad, it is necessary to be assisted by a Legal Tax Expert.

The Doron Tikotzky Kantor Gutman Cederboum team consists of attorneys and chartered accountants, mostly veterans of the Israeli Tax Authorities. They possess unique expertise and familiarity, in representing Israelis asking to neutralize criminal exposure, originating from tax offences committed in Israel or elsewhere, either deliberately, negligently, or otherwise.

The Voluntary Disclosure process is quite complicated. Doron Tikotzky Kantor Gutman Cederboum operates with total discretion, creating an environment where you are insulated from all steps surrounding interaction with Tax Authorities in Israel. In fact, the client has only one discreet point of contact, throughout the entire process.

Through Doron Tikotzky Kantor Gutman Cederboum’s professional representation, the procedure entails removing the fault before the relevant Tax Authority, and concluding the matter without criminal proceedings.

Offenses Requiring Disclosure:

  • Not reporting the existence of a bank account and its yields whether in Israel or abroad.
  • Non reported income-generating business whether in Israel or abroad
  • “Black” money generated in Israel or abroad
  • Not reporting on taxable inheritance or its yielding

Enjoy Your Money Now!

  • ENJOY YOUR MONEY almost immediately.
  • LOW COST when compared with getting caught.
  • CONFIDENTIALITY is guaranteed and you speak to only one person who answers all your questions.
  • EXPERIENCED team of top attorneys and accountants, experienced specifically in Voluntary Disclosure (worked for Tax and Financial Government Agencies).
  • INTEGRITY: Trusted by Government Financial and Legal institutions and clients.
  • SUCCESS – High success rate processing numerous cases.

Read these Case Studies: True stories

In order to submit a request for Voluntary Disclosure, whether referring to income generated in Israel or abroad, it is necessary to be assisted by a Legal Tax Expert – preferably a Tax Lawyer.

Why Do You Need a Lawyer? Can’t an Accountant Suffice?

Only a lawyer can exercise Lawyer-Client Confidentiality!

Imagine, what would happen if, during the disclosure process, the Justice System came to suspect past criminal activity with regards to your financial dealings. They could legally demand information from your accountant and he would have to provide it. An accountant does not have binding Client Confidentiality Privilege, and you could be exposed to criminal action.

DOWNLOAD BROCHURE: Anonymous Voluntary Disclosure and Trusts for Israelis

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