News item – Dubai papers – Last chance to regularize your tax situation!
In a press release issued on Wednesday, January 18, 2023, the Parquet national financier (PNF) asks French customers of the Helin Group to “contact the Public Prosecutor’s Office as soon as possible”.
Helin International FZE, based in Ras Al-Khaimah, a member emirate of the United Arab Emirates (“UAE”), is accused of organizing tax fraud for hundreds of European clients;
The PNF opened a preliminary investigation for aggravated tax fraud laundering on September 5, 2019.
The data obtained from Helin International FZE has been passed on to the Direction Générale des Finances Publiques, which has already filed a complaint against French taxpayers for tax fraud.
How do you know if you are obliged to regularize?
Here are a few examples:
You have inherited bank accounts in Dubai or the UAE, the existence of which has never been brought to the attention of the French tax authorities;
You are a company director and have been in contact with Helin International FZE;
You are a company director and have received invoices or other accounting documents from your suppliers mentioning the name of the Helin group;
You have been in contact or had business dealings with the Helin group in any capacity whatsoever;
What is the deadline for regularization?
The regularization procedure is open until April 30, 2023.
What are the consequences?
From a tax point of view, no information is available at this stage, but this call for regularization is reminiscent of the STDR (Service de traitement des déclarations rectificatives) system, a tax regularization service that was opened from 2013 to 2017 by the Direction générale des finances publiques.
On the criminal front, the PNF has specified that the penal sanction for tax fraud will be higher in the event of failure to regularize before April 30, 2023.
Our lawyers are at your disposal to advise you on your situation with regard to the obligation to regularize your assets located in Dubai and more generally in the United Arab Emirates, and to answer any questions you may have. Our meetings can be held face-to-face or by videoconference. You can book an appointment directly online at www.agn-avocats.com.
AGN AVOCATS – Tax
09 72 34 24 72