{"id":507,"date":"2012-04-16T10:00:00","date_gmt":"2012-04-16T10:00:00","guid":{"rendered":"https:\/\/blog.alexanderhiggins.com\/?p=507"},"modified":"2024-04-24T12:47:47","modified_gmt":"2024-04-24T12:47:47","slug":"spain-bans-cash-transactions-2500-euros-119031","status":"publish","type":"post","link":"https:\/\/blog.alexanderhiggins.com\/economy\/spain-bans-cash-transactions-2500-euros-119031\/","title":{"rendered":"Spain Bans Cash Transactions Over 2,500 Euros"},"content":{"rendered":"
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Spain has outlawed the use of cash in business transactions in excess 2,500 euros in order to crack down on the black market and tax evaders.<\/h3>\n

As the government scrambles for every tax dollar it can get its hands on, even though they already gave every Spaniard $23,000 Euros in debt last year alone (approximately $32,500), they are now banning all large cash business transactions.<\/p>\n

Why? So they can track the transactions and make sure that people and business are paying taxes. Being able to track the transactions is also aimed to combat the growing black market in Spain.<\/p>\n

\u00a0<\/p>\n

Via Libre Mercado<\/strong><\/a>: (translated by google)<\/p>\n

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The Government banned cash payments in excess of 2,500 euros<\/h1>\n

Those who violate the ban will face fines of 25% of the payment made in cash.<\/h2>\n

The Prime Minister, Mariano Rajoy,<\/strong> has announced on Wednesday that the plan to combat tax evasion<\/strong> on Friday approved the Cabinet prohibit the payment in cash transactions of over \u20ac 2,500 and<\/strong> which at least involved a businessman professional.<\/p>\n

During the control session the Government in the House of the Congress of Deputies and in response to a question about the tax amnesty made by the general coordinator of IU, Cayo Lara, the Prime Minister has revealed that those who violate the ban will face fines of 25% of the payment made \u200b\u200bin cash.<\/strong><\/p>\n

The Government had already advanced the plan to combat fraud limitations include the use of cash for certain operations, although he had not yet specified which would place the threshold (yes at the time there was talk that it could be 1,000 euros for self-employed).<\/p>\n

Black money<\/strong><\/p>\n

This measure aims to prevent the use of black money in commercial transactions and, in the case of companies, give them an obstacle to not resort to false invoices. The plan to combat fraud adopted on Friday, the Cabinet intends to raise up to 8.171 million euros in 2012.<\/p>\n

Rajoy has argued before Cayo Lara tax amnesty<\/strong> approved by the Government in the fight against the deficit, noting that a measure is \u201cextraordinary and exceptional\u201d<\/strong> only valid for 2012, adopted in a \u201cvery difficult\u201d and to help improve revenue.<\/p>\n

In fact, insisted that it is a measure recommended by the OECD in difficult situations and has already been used in countries like Germany, USA and Italy, which allowed the latter to raise 5,000 million euros in 2009 and 2010.<\/p>\n

The president has also said that in Spain and there were three tax amnesties in the past (1977, 1984 and 1991)<\/strong> and, unlike then, when the fraudsters who paid nothing surfaced assets to the Treasury, in this case paid between 8% and 10%.<\/p>\n

IU criticizes the tax amnesty<\/strong><\/p>\n

For its part, the general coordinator of IU, Cayo Lara,<\/strong> has warned the Government that the tax amnesty \u201cis not the way to fight\u201d the deficit has been reported that an initiative is \u201cunfair and unconstitutional.\u201d<\/strong><\/p>\n

Rajoy Lara reminded that when the PP was in the opposition rejected the tax amnesty proposed by the Socialist government claiming it was \u201cunfair and antisocial\u201d in the words of the PP\u2019s general secretary and president of Castilla-La Mancha, Mar\u00eda Dolores de Cospedal.<\/strong><\/p>\n

\u201cWe understand the serious situation, but the tax break allows us to continue to rob everyone with impunity. The problem of fraud all fails, cutting the budget of the tax and forgiving fraudsters,\u201d he broached Lara.<\/p>\n

The general coordinator of IU Rajoy called on a real anti-fraud plan, with more resources to the tax office, and has taken the opportunity to ask the president that when you announce cuts of 10,000 million euros \u201cdo it in Parliament.\u201d<\/strong><\/p>\n<\/blockquote>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Spain has outlawed the use of cash in business transactions in excess 2,500 euros in order to crack down on the black market and tax evaders. As the government scrambles for every tax dollar it can get its hands on, even though they already gave every Spaniard $23,000 Euros in debt last year alone (approximately … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.alexanderhiggins.com\/wp-json\/wp\/v2\/posts\/507"}],"collection":[{"href":"https:\/\/blog.alexanderhiggins.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.alexanderhiggins.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.alexanderhiggins.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.alexanderhiggins.com\/wp-json\/wp\/v2\/comments?post=507"}],"version-history":[{"count":2,"href":"https:\/\/blog.alexanderhiggins.com\/wp-json\/wp\/v2\/posts\/507\/revisions"}],"predecessor-version":[{"id":1036,"href":"https:\/\/blog.alexanderhiggins.com\/wp-json\/wp\/v2\/posts\/507\/revisions\/1036"}],"wp:attachment":[{"href":"https:\/\/blog.alexanderhiggins.com\/wp-json\/wp\/v2\/media?parent=507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.alexanderhiggins.com\/wp-json\/wp\/v2\/categories?post=507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.alexanderhiggins.com\/wp-json\/wp\/v2\/tags?post=507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}