- Business
- Childbirth & Education
- Legal Formalities
- Motoring
- Other
- Pensions & Benefits
- Property & Accommodation
- Taxes
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Join us for Tea on the Terrace
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
- Liva & Laia : 15th November
The controversial tax amnesty that was in place last year brought about 40 billion of assets to the surface that had previously been kept hidden from the Spanish tax authorities, Finance Minister Cristσbal Montoro told Congress on Wednesday.
The government had been looking to bring in 2.5 billion with the move through a 10% charge on what was declared, but only managed to swell the state's coffers by 1.193 billion.
That implied that those coming clean on undeclared assets and earnings paid under three percent to do so on average. This is because the surcharge was only payable on income from 2007 onward due to the statute of limitations on such matters.
Montoro insisted that the tax amnesty did not release anyone from criminal charges for any illegal activities in which they had engaged to obtain the assets in question.