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Spain Bans Cash Transactions Over 2,500 Euros
Tuesday, April 17, 2012 @ 11:52 PM

Spain has outlawed the use of cash in business transactions in excess 2,500 euros in order to crack down on the black market and tax evaders.

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 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.
 

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Angie said:
Saturday, April 21, 2012 @ 10:00 AM

I wonder how they're going to police this. Seems to me it would be easy to get around it except for major amounts of cash.


steve bennett said:
Saturday, April 21, 2012 @ 12:20 PM

Will this also apply if you are just having money sent from the uk via SMART CURRENCY for your personal living costs, ie, rent, food etc?


mike in Spain said:
Saturday, April 21, 2012 @ 6:47 PM

I think this is a daft measure by a desperate government trying to do something that probably actually does nothing, the transactions they need to stop are the thousands, hundreds of thousands and millions that the politians and others in power are making to themselves and stop pussy footing around with the ants in the field.


Jim said:
Monday, April 23, 2012 @ 7:22 AM

A passenger on plane recently told me that he witnessed another passenger (on arriving to an airport in Italy from a foreign country) was questioned by authorities about how much money he had in his possession. I heard that on euros notes there are some marks which can be detected with some sensors. I don’t know if this is true or not. Anybody heard any such story? Looks like the said passenger had significant cash (euros) in his pockets that triggered the sensors and alarmed the airport officials. Being from the middle east myself, I traveled several times to Spain searching for a property and anytime I brought with me some cash to deposit in the bank, but in the last month trip, the bank teller got suspicious to me and after asking questions of where I got the money from asked for a telephone number in Spain and made a photocopy of passport. She also gave me warning that I better be careful with bringing cash to that bank. Probably not before too long, government officials will know how much money we have in our pocket when walking around.


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