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Things are going so
"well" in Spain that the Government banned cash
payments in excess of 2,500 euros
Via Google Translate from Libre Mercado
...
The Prime Minister,
Mariano Rajoy, has announced on Wednesday that the
plan to combat tax evasion on Friday approved the Cabinet prohibit the
payment in cash transactions of over € 2,500 and n
which at least involved a businessman professional.
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 in cash.
Black Money
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.
I calmly predict that black market transactions in
Spain will soar as soon as Spain is stupid enough to hike the VAT.
Sadly, such stupidity is just around the corner as noted in Slow Road to Hell: Spain
Entertains VAT Hike
Real Anti-Fraud Plan
Once again I am stumbling for a precise translation but I happen to agree
with this sentiment (emphasis mine) as translated by Google from the lead
article.
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 "do it in Parliament.
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