Finance ministry in charge of black money

The nationalisation of the Dutch activities of financial services group Fortis, including the ABN Amro bank, means the finance ministry is now effectively in charge of bank accounts containing hundreds of millions of euros in ‘black’ money, reports Tuesday’s Volkskrant.


Clients who have deposited money that has not been declared to the tax authorities in ABN Amro accounts in Switzerland and Luxembourg began to panic at the weekend, the paper says.
These account holders are unsure whether they should come clean and tell the tax man or just sit tight and hope the finance ministry does not find them.
Lucky for them, reports the Volkskrant, there is someone they can ask for advice: a civil servant at the tax office who is in charge of a special arrangement that allows people to declare black money to the tax authorities without being penalised.

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