Voluntary Disclosure

Our Tax Department’s legal teams handle clients’ voluntary disclosure arrangements, which enable them to receive immunity from criminal prosecution, subject to payment of taxes owed. Through effective negotiations with the Israel Tax Authority, understandings have been reached that allowed our clients to settle their tax payment and avoid painful criminal procedures.

Our attorneys possess unique experience and expertise and a significant reputation in the field of voluntary disclosure arrangements with the Israeli tax authorities. For example, the Israeli media reported that the leading international banks UBS and Credit Suisse recommended our firm to their clients as first-class experts on voluntary disclosure.

In recent years our firm has handled hundreds of voluntary disclosure procedures with a total value of approximately 2 billion ILS. This included leading dozens of proceedings before various Tax Assessors regarding numerous unreported foreign banks accounts and other foreign assets, as well as active tax evasion arrangements vis-à-vis the Investigations Department and the State Attorney’s Office.

In addition to representing private clients in the field, our attorneys provide ongoing legal counsel to several leading foreign banks throughout their preparations for the voluntary disclosure program. Our legal teams advise the banks regarding the adjustment of their client reports in accordance with the voluntary disclosure programs and Israeli tax law requirements, in order to ease their participation in these programs.

As part of the legal services we provide in this area, our litigation and tax teams also represent several clients which are under criminal investigation due to tax evasion amounting to millions of ILS. In this capacity, our attorneys provide ongoing counsel throughout all stages of the investigation, handle tax ransom proceedings vis-à-vis the Tax Authority, handle all contact with the Tax Authority’s Investigations Department, and more.

"Goldfarb Seligman & Co advises on international tax planning, asset protection, inheritance, voluntary disclosures and charitable giving."

Chambers & Partners | 2018