Rectify your incorrect Dutch tax return (inkeerregeling)
Did you file an incorrect Dutch tax return in the past? For example, not submitting all your Dutch and foreign assets to the tax authorities (Belastingdienst). Think of an inheritance, investments, or a second home. In this case, there is a good chance that you have paid too little tax, either by mistake or intentionally. In the Netherlands, you can choose to rectify your incorrect tax returns, by which you can avoid penalties and criminal prosecution. We call this the voluntary disclosure scheme (in Dutch: inkeerregeling).
The inkeerregeling (voluntary disclosure scheme) is a scheme for taxpayers in the Netherlands. Via this scheme, you can voluntarily correct the tax returns afterward. In this way, the tax authorities will still receive the correct information, you will not pay too little tax and you can enjoy your income without feeling guilty.
When can you apply the voluntary disclosure scheme?
Do you not get such a good feeling about your withheld income, inheritance, or assets? Then, make use of the voluntary disclosure scheme. As long as the Dutch tax authorities are not aware of this capital, you may voluntarily rectify your tax return. Did the tax authorities already ask questions, or is there already an investigation announced? Then you are, unfortunately, too late for the inkeerregeling.
How do you use the voluntary disclosure scheme?
In some cases, you can still change your Dutch tax return. You can check this by logging in to ‘Mijn Belastingdienst‘. Can you no longer change the declaration? Then use the voluntary rectification form. You fill in this form, print it out, sign it and send it to the tax authorities.
Is voluntary disclosure interesting for you?
More and more countries are exchanging information with each other. It is also expected that in the future your cryptos (such as bitcoin, ethereum) will be visible to the Dutch tax authorities. So have you withheld a foreign bank account from the tax authorities? Or have you not given up your crypto portfolio? There is a good chance that they will find out, which can lead to big fines.
Will you make a voluntary rectification of your taxes within two years? This could save you a negligence penalty (vergrijpboete). Are you waiting longer than two years? Then, you will receive a negligence penalty, but the sentence will be reduced. Since 2020, the voluntary disclosure scheme has become stricter. The scheme is practically canceled for people who hide their assets. This concerns box 2 (substantial interest) and box 3 (savings and investments). However, a rectification does result in a lower sentence, which could reduce your fine significantly.
Help with your voluntary disclosure
Voluntarily correcting your Dutch tax return(s) can have consequences for your financial situation. And that is precisely why it is important that communication between you and the tax authorities runs smoothly. Do you want help with the voluntary disclosure? We are happy to help you! Contact us using the details below.
Fill in our contact form and we will get in touch!