The case
Repentant tax evaders have brought the tax authorities extra revenue. When the tax amnesty was introduced ten years ago no one believed that it would be successful. Since then self-declarations have brought the Swiss treasury up to CHF 5 bn of extra revenue, for more information see NZZ and link.
Source: Neue Zürcher Zeitung, 4 February 2020 and efd.admin
The commentary
If illicit funds are declared within one’s lifetime, there are no fines. However, one will have to pay the taxes due in the past ten years as well as default interest. In the case of inheritance the heirs only have to pay taxes on undeclared assets for the past three years.
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