Bank account declaration/regularisation

Holding a Swiss bank account is perfectly legal. However, depending on your country legislation, the bank account must be sometimes declared to the Tax Authority to avoid charges of tax evasion and severe financial penalties.

A voluntary regularisation procedure has been established. It contains favourable provisions for penitent bank account holders, including a reduction in financial penalties

Our team’s tax specialists will competently take care of the legalisation of your Swiss bank accounts for tax purposes.

As specialists regularising your tax situation, Amedia Fiduciary’s experts will handle all such procedures and the preparation of your file for submission to the tax authority.

This chance to regularise your affairs will not be around forever

Numerous countries, including France and Switzerland, have signed an agreement to automatically exchange information so that any concealment of bank accounts will be impossible because the signatory States will be automatically informed of foreign bank accounts held by their taxpayers. This agreement will soon come into force.

In July 2016, the French Secretary of State for the Budget announced “once we have an automatic exchange with 101 countries, which would be in 2018 at the latest, I don’t see why we would continue to accept new voluntary applications. Anyone who hasn’t come forward before then and is caught by the automatic exchange system should be heavily sanctioned.”

For taxpayers, this agreement marks the end of the opportunity to regularise their tax situation while benefiting from less severe financial penalties.

Finally, it should not be forgotten that, by waiting, the tax authority could find out that you hold one or more foreign bank accounts. Any accounts discovered during a tax audit are not allowed to be legalised and their discovery by the tax authority will lead to hefty financial consequences.