Advertising Console

    Systematic tax fraud crippling Spain

    Repost
    PressTV

    by PressTV

    697
    8 views
    The Spanish government is struggling to chase tax evaders to help balance the country’s budget.

    Back in 2012, Spain began prohibiting consumers from paying cash to settle bills of 2,500 Euros ($3,190) or more in legislation designed to curb tax evasion.

    Outlawing certain cash transactions that are commonplace across the country, such as paying a carpenter for home remodeling, is the latest in a series of revenue and spending changes that Prime Minister Mariano Rajoy has pushed in a bid to close the budget deficit and avert the need for a second bailout.

    Tax inspectors estimate that Spain is one of the European Union’s largest generators of undeclared earnings.

    In January, a Spanish court charged Princess Cristina, the younger daughter of King Juan Carlos, with tax fraud and money laundering amid a lengthy corruption case involving her husband.

    KQ/HSN