January 2010
The Taxman Cometh
New legislation means that Spanish Banks are obliged to inform the taxman of transactions over 3000.00 Euros.
The new legislation applies to cash and credit card payments and is a move forward in the fight against fiscal fraud. The new rules mean the bankers mus inform tax officials of any movements of cash or credit cards over 3000.00 euros.
Officials already have access to such information if it requests it, but now there will be a routine transfer of the information
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