Owner forgets bank account with $ 5 million on it Money

He often worked abroad. In 2016, the Tax Authorities received financial data from two accounts from him from the United States. One account had 800,000 US dollars and the other approximately 5 million US dollars.

After the man was questioned about this by the FIOD and by the tax authorities, the man said that he had indeed concealed the bill with the value of 800,000 US dollars in order not to have to pay taxes.

Unbelievable

However, he said he simply forgot to take the 5 million bill. “That is unbelievable,” the prosecutor said according to the published ruling.

The man in question simply had access to internet banking and could view his accounts at any time. He also paid a reduced tax rate of 15% on his savings in the US. In addition, he told the US tax authorities that he should be eligible for this because he is a foreigner and therefore has to pay taxes on his money in the Netherlands. Normally the US tax rate would be 30%.

Philip Morris

The man defended himself by saying that the 5 million account was once opened by his employer, Philip Morris, and that he “found himself in astonishment” only after 2016, after contact with his bank, discovered the existence of the account. He said it was an option plan, with options and shares.

The police court is of the opinion that it has been proven that the bill of $ 800,000 was not intentionally declared. He goes so far with the former Philip Morris employee that he really thinks the man has really forgotten the 5 million bill.

For evasion of tax on the other bill, the police judge convicts the man of an unconditional 150-hour community service and a 1-month suspended prison sentence. No fine is imposed on the man, because the man is therefore partially acquitted of tax fraud.

Consequences

Steven Oomens from tax magazine Fiscaal up to Date calls it an interesting case. “The prosecution also has consequences for the tax authorities. Obviously, a gentleman has to pay tax on the bank account not previously declared, but he can no longer receive a fine for an incorrect declaration from the Tax Authorities because he has been prosecuted. “

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