Vienna · AustriaWONE Global Capability Partner · Austria
Submission received
Your information has been recorded by WONE.
Cases · People & private matters · Personal wealth, expatriates & tax residence
Correct past undeclared foreign income
I have foreign income or accounts I didn't declare. How do I fix it?
WONE Global coordinates a voluntary disclosure with tax professionals in each country involved, quantifying what is due and settling it.
Countries in the typical case United Kingdom · Australia
The situation
What is happening
An individual has foreign accounts or income that were not reported and wants to correct it.
What is at stake
Waiting increases penalties and risk, because tax authorities now exchange account information automatically.
Who faces this
- Private clients and families
A scenario
ProfessionalPrivate client or family · from United Kingdom · in Australia
He discovers his foreign pension and bank account were never reported at home.
Where it ends Back in good order.
A representative scenario of the work WONE Global coordinates, not a specific client’s matter.
Also asked as “Voluntary disclosure of foreign assets”“Undeclared overseas bank account”“My offshore account has generated a disclosure obligation”“I need to regularise an undeclared international investment”
The solution
How WONE Global handles it
WONE Global coordinates a voluntary disclosure with tax professionals in each country involved, quantifying what is due and settling it.
Usually led by Tax and structuring, with Accounting and annual filings and Anti-bribery, sanctions and compliance.
Step by step, in the scenario
- Week 1Amounts quantified.
- Weeks 2-4Disclosure prepared.
- Week 5Filed.
- ThenSettled.
Timings are typical. They depend on the countries, the authorities involved and how quickly documents are available.
Decisions
The decisions involved
- 01Which disclosure route reduces penalties
- 02How many years must be corrected
- 03Evidence needed from foreign banks
Outcomes
What you receive
- A disclosure strategy
- Corrected filings
- Ongoing compliance in place
This is a general guide. Your WONE Global professional confirms the work, timing and fees for your markets before anything starts.
Services
The services involved
One area of expertise usually leads; the others move with it. WONE Global keeps them connected across every country involved.
Who handles it
Tax and structuring, market by market
The status of the lead service in the markets that matter for this case. A named WONE Global Partner acts under their own licence; where none is in place yet, WONE Global confirms availability before anything else.
- Australiain the typical case On request Availability confirmed before any work begins Bring a requirement →
- United Kingdomin the typical case On request Availability confirmed before any work begins Bring a requirement →
- Austria WONE Global Partner Dr. Rosam Karl J. · Managing Director Brief this Partner →
- Cameroon WONE Global Partner Edmond Christian AKOA MBALLA · Founder & Managing Partner Brief this Partner →
- Colombia WONE Global Partner Katherin Diaz Velilla · Co-Founder Brief this Partner →
- Ecuador WONE Global Partner Mauro Tejada Ramon · Tax & Legal Partner Brief this Partner →
- Germany WONE Global Partner Ulrike Berner, MBA · Managing Partner Brief this Partner →
- Hong Kong WONE Global Partner Yvonne Chow · Partner Brief this Partner →
- India WONE Global Partner Sandeep Gupta · Managing Partner Brief this Partner →
- Ireland WONE Global Partner Kevin McSharry · Managing Director Brief this Partner →
- Italy WONE Global Partner Alessandro Dagnino · Managing Partner Brief this Partner →
- Kenya WONE Global Partner Farheen Khandwalla · Tax and Business Process Outsourcing Partner Brief this Partner →
- Panama WONE Global Partner Ebrahim Asvat K. · Managing Partner Brief this Partner →
- Rwanda WONE Global Partner Lilianne Gasango · Tax & Financial Advisor Brief this Partner →
- Saudi Arabia WONE Global Partner Abdullah Yousef Alhussaini · Founding Partner Brief this Partner →
- United Arab Emirates WONE Global Partner Priju Dominic · CEO & Founding Partner Brief this Partner →
- United States WONE Global Partner F Miles Adler · Principal Brief this Partner →
- Vietnam WONE Global Partner Chau Kim Hien · CEO Brief this Partner →
- Zambia WONE Global Partner Gerald Zimba · Director Brief this Partner →
- Singapore On request Availability confirmed before any work begins Bring a requirement →
Other markets: WONE Global covers 100 countries. Name yours in the requirement →
Vienna · Austria
Douala · CameroonWONE Global Capability Partner · Cameroon
Edmond Christian AKOA MBALLA
Bogotá · ColombiaWONE Global Capability Partner · Colombia
Katherin Diaz Velilla
Complete profile
- Tax and structuringNamed lead
- Licences, permits and regulatorsNamed lead
- Buying, selling and investingNamed lead
International tax attorney and strategic advisor with 12+ years across Colombia's DIAN, Ministry of Finance, Senate, Presidency, and EY. Co-founder of V&V Asociados. Specializes in cross-border tax structuring, transfer…
Quito · EcuadorWONE Global Capability Partner · Ecuador
Mauro Tejada Ramon
Professional with 20 years of experience in Tax Administration, performing functions in the managerial and tax administration fields. Experience related to the fiscal field in the main sectors of the economy: Banking, c…
Munich · GermanyWONE Global Capability Partner · Germany
Ulrike Berner, MBA
Ulrike Berner has been Managing Director and shareholder of BSP since 2021, leading the strategic direction, client relationships, and business development of the firm. She has extensive experience working with firms an…
Kowloon · Hong KongWONE Global Capability Partner · Hong Kong
Yvonne Chow
Ms. Chow, our director, graduated from Smith College (US), and obtained her master's degree in Religion from Yale University. She is an associate member of Hong Kong Institute of Certified Public Accountants and Institu…
Discover
Where this case connects
The markets, corridors and guides behind this case, and the questions to put to Ask WONE below. Every link opens a page that links back here.
Markets in the typical case
Corridors
Services and subject
Worked examples
How it goes in practice
Researched corridor journeys, and representative scenarios on the same subject. None is a specific client’s matter.
- Australia ↔ Southeast Asia · researched journeyAn Australian company sets up its regional hub in SingaporeRead the journey →
- UAE ↔ United Kingdom · researched journeyA UAE company sets up a UK subsidiaryRead the journey →
- Private client or family · from Mexico · in SpainIt is selling its 30% stake in a Spanish company to a strategic buyer.How WONE Global handles it →
Personal wealth, expatriates & tax residence
Related cases
We want to sell our stake abroad. How do we exit cleanly?I'm moving abroad. How do I change my tax residence properly?I live abroad. How should I hold investments back home?Banks keep refusing or delaying my accounts abroad. Why?Should I sell my business before or after moving country?I rent out property abroad. What tax and rules apply?I want to bring inherited funds into my home countryI want to leave assets to family members in different countriesI need a review of tax on foreign pension incomeMy citizenship and domicile create estate-planning concerns
WONE Global Intelligence
Ask about doing business across borders
Ask in your own words. Answers come from WONE Global's checked records, with every source shown, and end with the named Partner who can act. Go deeper on any point, or build a decision file.