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Consequences of hiding assets or income from the tax authorities (“AT”)

As a rule, intentional omissions or inaccuracies in fiscal declarations or other tax relevant documents are punishable by a fine of between €375 and €22,500 for individuals or €750 and €45,000 for companies. Also, these infractions are punishable as the crime of tax evasion if the outstanding assessment is €15,000 or more per declaration. Tax fraud is punishable by imprisonment of up to three years. In more egregious situations, the crime of qualified tax fraud is punishable by imprisonment of two to eight years for individuals and a penalty of 480 to 1920 days for company directors.

Dennis Swing Greene
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