Declaration of overseas property

Questions and Answers > Category: Tax Return / Advance Statement > Overseas property declaration

Natalia 4 years ago

Good day! I have been working in Holland since 2017, there is no taxiing. She handed in declarations for 2017 and 2018. Now, when preparing the declaration for 2019, I learned from my parents that a share in a Russian apartment was registered for me. The cost of the share in terms of euros is more than 30600 euros. I wanted to list this property in the current declaration for 2019, but I remembered that I had not indicated it in the previous ones. What threatens me for the fact that I did not indicate it in the declarations for 2017 and 2018? Can I be fined for providing false information in previous years? In the fall of 2020, I am going to apply for citizenship. Do I have problems because of this? Or maybe not show Russian real estate in the declaration at all, at least until citizenship is issued? As an option, I will later re-register it to my sister so that she will not be listed on me at all.

1 response

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Nalog.nl Admin 4 years ago

Good evening, Natalia!

Penalties can be applied only in case of underpayment of taxes. Ownership of a share of an apartment in the Russian Federation is subject to double taxation and is not subject to taxes in the Netherlands. This fact will not affect the acquisition of citizenship either.
It makes sense to show this property in the declaration if in the future you are going to sell the apartment and transfer money to your account in the Netherlands. The bank may be interested in the origin of the funds.

Best regards, Nalog.nl Team.