How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Mr Grumpy v The Spanish Lifestyle
- Daily Brief - Friday 6 December 2013
- Join us for FREE IHT advice in Murcia & Costa Calida
- Madrid : Spain's Fashion Centre
- Gibraltar Relations
- Pensioners 'misled' by Co-op Bank
- UK Inflation no problem for Governor Carney
- Retiro Park : Madrid
- Spanish Tourism Stats Confusion
- Wincham announce opening of Marbella office
- Unauthorised Financial Advisers in Spain : UPDATE
- Community Insurance in Spain
- Calendar Girls
- Own a Property in Spain ? Then you need to read the following
- Considerations when Insuring your Boat in Spain
Tax amnesty leaves loophole favouring money-launderers
The Ministry of Finance website has published the draft declaration form to qualify for the tax amnesty, approved by the Government last March, to allow any previously undeclared income to be taken into account by paying a surcharge / penalty of just 10%.
There was however, uncertainty surrounding the issue of previously undeclared sums held as cash. The Treasury now advises that taxpayers must deposit these notes into a bank account before filing the special amnesty tax return.
Interestingly, the draft ministerial order does not include any measures for the declaration of the origin of the funds, which leaves this measure open to exploitation by money launderers.
The Government expects to generate 2.5 Million Euros in revenue by application of this measure, together with changes in personal incomes tax, corporation tax and non-residents taxes, with a dealine of the 30th of November being issued for all back-taxes to be paid without penalty before the amnesty ends and criminal prosecutions may be undertaken.
Latest News & Stories
- Spain's El Gordo Lottery Tax Breakdown
- 3 Earthquakes in Lorca, Murcia
- Spain Appoints Cybersecurity Council
- Sale of Spain's Ciudad Real Airport Underway
- Spain expects 10'000 Bankruptcies in 2013
- Contract awarded to complete works at Castellon Airport
- Major delays with UK-Spain flights this weekend
- UK Notes "Historic Parallel" Between Ceuta, Melilla and Gibraltar
- Paramount UK in line for Gov't windfall : A Lesson for Murcia ?
- Catalonia wants to cancel licenses for at-risk drivers
- Understanding Complementary Tax
- Wealth Tax
- What is the IBI Tax and How is it Calculated ?
- Where to get Legal & Professional Advice in Spain