Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain tax amnesty to close end Nov

Tue 6th Nov 2012
Spain tax amnesty to close end Nov

Spain's tax amnesty - which offered those with undeclared taxable assets the opportunity to pay a fixed 10% fine without further criminal or administrative penalties - is due to close at the end of November.

The terms of the amnesty allow residents and non-residents alike, and who have not paid the appropriate taxes, to volunteer themselves to the Ministerio de Economia y Hacienda, and pay the fine.

The amnesty includes any unreported income or assets held outside of Spain such as property, offshore bonds and bank deposits, but does not apply to IHT, gift tax, wealth tax or VAT.

The amnesty only covers undeclared assets up until the end of December 2010, and not the 2011/2012 tax year.

The government has previously said that it hoped to collect some 2.5 billion from the 25 billion it believes Spaniards have hidden in deposits abroad that is currently going untaxed.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs