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One of the measures included in the draft General State Budget that PSOE and Podemos presented last week was the limitation of cash payments to just \u20ac1,000 in order to reduce the underground economy and tax fraud. This reduction will mean 60% less than the previous limit of \u20ac2,500.<\/p>\n
\nThis is a measure that was already planned in 2016 but that the previous executive never materialized. It is now that they want to recover, taking another step in eliminating cash, just as other countries such as Denmark are doing, with the aim of fighting against tax fraud.<\/p>\n
\nIt was during the Council of Ministers last Friday, where the draft anti-fraud law was presented, a series of measures to fight against tax fraud, which now has to go through the approval of the Congress and the Senate before its final approval .<\/p>\n
\nIt must be said that this restriction on cash payments is limited to transactions carried out between professionals, leaving out payments made between individuals and, in principle, also the restrictions of 15,000 euros currently in force when the payer is a natural person who justifies that his\/her registered office is not in Spain and does not act as a professional or businessman.<\/p>\n
\nOther measures to combat tax fraud are also included within this same law, such as the prohibition of dual-use software to hide accounting in B; greater tax control against cryptocurrencies and the reduction of the amount that the Treasury takes into account to enter a list of defaulters, which will drop from one million euros to 600,000 euros. With all these measures, the Government intends to raise some 822 million euros.<\/p>\n
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