Monday, 25 February 2013

How much can you pay in cash?

SPAIN When the subject was first mooted, cash payments of over €2,500 when one or more of the parties to a transaction is a professional (dentist, doctor, lawyer, etc.), self-employed or representing a business, is now forbidden by law. The idea is to do away with an underground economy that pervades the country and detracts from its income. The part of the new anti-tax evasion law that now comes fully into effect in fact began on October 31, 2012,  but this section was delayed mainly in order to allow small businesses to adapt to it. The maximum amount of cash as part of a transaction allowed to non-residents is €15,000 because the Government does not want to interfere in the tourism business. (A more detailed article on this subject will soon be available on

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