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Large Businesses Account for 70pct of all Spanish Tax Evasion

Wed 10th Aug 2011

The Association of Technical Accountants at Spain's Ministry of Finance (GESTHA) have estimated that large Spanish corporations accounted for 42.711 million in evaded taxes due to the Hacienda for 2010 alone.

The report, published in La Razon newspaper, says how this accounts for 71.8% of all taxes evasion in Spain - more than triple the sum fraudulently withheld by smaller companies and self-employed workers.

The Secretary General of GESTHA, Josť Maria Mollinedo, stressed that "the social responsibility of large companies in the collective effort to overcome the fiscal crisis should be greater. "

Over the weekend Spain's Minsiter for Finance and Economy, Elena Salgado, proposed reforms for larger businesses whereby they would be required to pay a greater proportion of taxes in advance, as is required of their employees.

The Spanish public had their tax for the year withheld in monthly instalments, and it is therefore reasonable to request that larger corporations do likewise, she said.

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