January 27, 2021

Tax amnesties will be prohibited by law and cash payments will be limited to 1,000 euros

Tax amnesties will be prohibited by law and cash payments will be limited to 1,000 euros


MadridUpdated:

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He Agreement between the Government of Pedro Sánchez and Podemos for the Budgets of 2019 contemplate an ambitious increase in the collection of 5,678 million euros. That figure, as detailed by the Finance Minister, María Jesús Montero, includes raising taxes on businesses and high incomes, economic growth itself and, thirdly, the new plan to fight against tax fraud. This plan includes new features such as reducing cash payments and prohibiting tax amnesties by law.

The government of Felipe González carried out two amnesties, one in 1984 and another in 1991, and more recently, in 2012, the Executive of Mariano Rajoy applied another. The Socialist Executive and the party led by Pablo Iglesias have now agreed to expressly prohibit the possibility of tax remission in the future, they explain, "to the great social injustice they pose."

The measure battery of fight against fraud of both formations also includes reducing from one million euros to 600,000 euros the amount of debt from which a person is included in the list of defaulters of the Tax Agency. In addition, those responsible will be included in this list.

Another important novelty is an even greater reduction in the maximum amount of cash payments, as the Executive of the PP already did when reducing them to the current 2,500 euros. Specific, the payments that businessmen and professionals can make in cash within their activity will be reduced to 2,500 to 1,000 euros professional, thus not affecting payments between citizens.

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