Published On: Thu, Jul 18th, 2013

Dutch Tax Collector hunts on Trusts and Foundations

WillemstadWILLEMSTAD - There is great unrest among wealthy Dutch who hide behind a foreign trust. Dutch who have parked their capital in foundations and trusts on islands as the British Virgin Islands, Guernsey and Curacao feel the hot breath of the tax collector on their necks. A separate team from the tax revenue department knows how to find funds that were never declared.  The department is also focusing on collecting taxes on declared funds.

This is according to tax experts and so-called offshore structures. They find that there is considerable panic, because of all the recent publicity surrounding tax structures of individuals among wealthy Dutch. The unrest is fueled by additional Dutch people who have rigged tax structures and that are now being exposed publicly.

In recent weeks the "Antilles Route” of real estate millionaire Hans Veggel became headline. The former Director of “Multi Vastgoed” is suspected of hiding at least 25 million euros in a foundation in Curaçao. There were various high-profile raids on different locations in the Netherlands and Curaçao, which were widely reported in the Dutch newspapers.

The offshore leaks on http://www.icij.org/offshore attracts international attention. This database of two large trust companies with information on the financial activities of their wealthy clients, was leaked a few months ago.

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