October 24, 2020

The Government prohibits paying in cash more than a thousand euros in operations between professionals and companies


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The Council of Ministers has again approved this Tuesday the draft law against tax fraud, which maintains the main measures prohibition of tax amnesties and dual-use software, greater control of cryptocurrencies and the limitation of the use of cash.

The rule, which has passed all consultative procedures, already passed through the Council of Ministers in October 2018, but the political instability that led to early elections prevented its parliamentary processing.

In the press conference after the Council, the Minister of Finance and Government spokesperson, María Jesús Montero, recalled that the fight against fraud is a priority of the Executive and that in 2019 it allowed raise 15,715 million euros, 4.1% more than a year before, while the control over large assets and digital companies entered 608 million, 75% more.

“There is no tax justice if some evade taxes,” said Montero, who stressed that fraud involves unfair competition against taxpayers who do comply with their tax obligations and a deterioration in the collection with which public services are shielded .

“Zero tolerance against tax fraud,” added the minister, who stressed that the law includes measures against more sophisticated and complex forms of fraud that require increasingly specialized personnel in the Tax Agency.

The standard, which maintains the objective of be able to raise around 800 million Each year, it will prohibit the production, possession or commercialization of dual-use computer programs or systems that allow companies to hide part of their activity.

Likewise, tax amnesties will be prohibited, which means that “noncompliants will not be forgiven” again through regularizations from which large fortunes and large taxpayers usually benefit.

Asked about the amnesty that the Government of Mariano Rajoy made in 2012, Montero has insisted that the names of the beneficiaries were never published, despite the fact that it was an electoral promise of the Socialists, because the law prevents it.

The standard approved today also limit the payment in cash, which will drop from 2,500 to 1,000 euros for operations between companies and professionals, not for individuals, although Montero has pointed out that the Government’s objective is to continue reducing it to “lower cash payments to a minimum” and to have traceability of all operations.

Regarding the list of defaulters that the Treasury publishes each year, the debt threshold that entails the inclusion in the list of one million to 600,000 euros, with the idea of ​​promoting and expediting the payment of outstanding debts.

In addition, fiscal control over the cryptocurrency market will be strengthened, so that taxpayers will have to report the balances and account holders both in national territory and abroad.

The concept of tax haven will be expanded, taking into account criteria of tax equity and transparency, and the list of havens may be updated to include territories with low or no taxation, which would be incorporated as non-cooperating jurisdictions.

The draft includes the transposition of the European anti-tax avoidance directive, known as ATAD, which establishes rules against avoidance practices that directly affect the internal market.

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