Tax crackdown on shoppers in Spain

LAST UPDATED: 27 Oct, 2012 @ 10:11
3
SHARE
Tax crackdown on shoppers in Spain

A SPANISH department store has been ordered to hand over transaction details of all customers spending more than €30,000, as part of a crackdown on tax evasion.

The ruling applies to all payments made to El Corte Ingles using their branded credit cards between 2006 and 2007.

The firm – which has 11.18 million registered card users – had their appeal against the finance ministry request thrown out by Spain’s national court.

While it is unclear how many card holders the ruling will apply to, the move is part of a government clampdown on tax evasion in a bid to raise much needed revenue.

“From our point of view this is good news, I think the ruling will set a precedent,” Tim Taplin, senior advisor at Totus Consulting told the Olive Press.

“It is important for people to pay their taxes in Spain and I think the days of people declaring an income of €1,000 a month while their kids are at private school are gone.

“I think this is a sign of the way ahead and we can help clients to get their affairs in order.”

3 COMMENTS

The Olive Press are not responsible and do not moderate individual comments before they are posted. Anyone who uses racist, sexist, homophobic or xenophobic language or hate speech will be blocked.

HAVE YOUR SAY...