Why to Avoid Tax Evasion > Are you a tax evader?
Are you a tax evader?
Can the financial penalties charged on a tax evader be amnestied? How?
The principal term of the financial penalty and interests charged on a tax evader
Risk of paying much more personal income tax in case of a sale
Risk of being paid very low compensation in case of nationalisation
Risk of re-mortgaging your property at a lower value
Risk of being involved in an anti-money laundering activity
Risk of being included in the black lists of financial organisations
Other important points
According to the example described above, since you have not paid
- A “Real Estate Sale-and-Acquisition Levy“ (Tapu Harci) of £1,050 [=1.5%*(100,000-30,000)] at the time of purchase,
- A Real-estate tax of £ 70 [=0.1%*(100,000-30,000)] for each year during which you owned the property
you are considered as a 'tax evader' and you are subject to severe financial penalties when the evasion is detected.