Why to Avoid Tax Evasion > Can the financial penalties charged on a tax evader be amnestied? How?
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
The amount of financial penalty
depend on whether
a)You have recognised that you had evaded tax due to someone else's mistake or misleading recommendations (In that case you are to inform the tax&Tapu authorities about the situation through a petition stating you regret the situation)
b)The evasion is detected by the tax inspectors
c)Someone else informs the tax authorities about the evasion
d) The other (sellling) party informs the tax authorities about the evasion.
If you fall in Category (a) mentioned
above, tax penalties to be charged on you is amnestied
partially.