SPAIN (Source: Público) Exactly 366 Spanish nationals with millions in Swiss bank accounts have not responded to demands from the Agencia Tributaria (the tax authority) and have yet to put their fiscal affairs in order. The tax evasion laws which they have allegedly infringed prescribes in June. In other words, they are about to escape from prosecution. At a recent parliamentary question, the Ministry for Economy and reasury answered that 659 Spaniards had evaded taxes they should have declared through 2,700 accounts at HSBC's Swiss branch. Of these, only 293 had deigned to respond, which Hacienda (Treasury) announced had meant €260million for the nation's coffers. This was for the 2005-2009 income tax period payable in 2006-2010. However, of these 293, says Hacienda now, 151 are incomplete or, to put it beyond legalese spin, not entirely truthful.>Fiscal crimes in Spain expire at 5 years, but, in the case of these 293 who decided to pay up, that prescription is interrupted, and the 5 years begins again. This would allow Hacienda to continue investigating and make allegations against the 151 on whom there are doubts about the veracity of their declarations.
This is not so with the remaining 366 who have not responded and have therefore not paid in at all.
Cases to court
In these latter cases, Hacienda should be sending -or have sent- their files to court, where the prescription is interrupted only if a judge decides to initiate proceedings for tax evasion, a complicated procedure for which there is not enough time between now and June, say judicial sources.
The Agencia Tributaria said that it had begun sending "some cases" to the Public Prosecutor in January, though there are no figures to accompany the statement. Hacienda also alleges that secrecy is maintained throughout. In other words, the account holders nor the amounts involved can be disclosed. This about monies that have been estimated at about €6,000 million (six billion euros, if you prefer) of supposedly public money.
The 'tax collectors' union ', GESTHA, says that it is evident that the "Agencia Tributaria prefers to collect rather than sanction."
Investigations opened on these 366 alleged evaders can have their prescriptions interrupted, however, but only in administrative terms, not criminal. That is to say, Hacienda can expect to collect part of the monies evaded, but not all the money, nor can it punish the evaders. "After June, they can no longer be sentenced for tax evasion," says GESTHA.
This is not the only battlefront Hacienda is fighting in. There are another 54 Spaniards being investigated in another Swiss entity, Credit Suisse. Plus the 198 that had other accounts in another 'fiscal paradise' -as 'offshore accounts' are called in Spain: Lichtenstein. That investigation ended with accusations against only 35 cases.
Agreements with 'fiscal paradises'
991 Spain came up with a list of offshore centres that included 48 states. Over the last couple of years, this country has signed agreements with 9 of them and negotiating with another 10. The agreements are for tax information exchange or tax evasion avoidance policies.
The latest are Andorra, Netherland Antilles, Aruba, Bahamas and San Marino, and there were prior such agreements with Trinidad & Tobago, Barbados, Luxembourg and Panama. The greatest challenge is to get agreemets signed with Gibraltar, 'the great black hole for Spain's Treasury,' as the Rock has been described.
This is not so with the remaining 366 who have not responded and have therefore not paid in at all.
Cases to court
In these latter cases, Hacienda should be sending -or have sent- their files to court, where the prescription is interrupted only if a judge decides to initiate proceedings for tax evasion, a complicated procedure for which there is not enough time between now and June, say judicial sources.
The Agencia Tributaria said that it had begun sending "some cases" to the Public Prosecutor in January, though there are no figures to accompany the statement. Hacienda also alleges that secrecy is maintained throughout. In other words, the account holders nor the amounts involved can be disclosed. This about monies that have been estimated at about €6,000 million (six billion euros, if you prefer) of supposedly public money.
The 'tax collectors' union ', GESTHA, says that it is evident that the "Agencia Tributaria prefers to collect rather than sanction."
Investigations opened on these 366 alleged evaders can have their prescriptions interrupted, however, but only in administrative terms, not criminal. That is to say, Hacienda can expect to collect part of the monies evaded, but not all the money, nor can it punish the evaders. "After June, they can no longer be sentenced for tax evasion," says GESTHA.
This is not the only battlefront Hacienda is fighting in. There are another 54 Spaniards being investigated in another Swiss entity, Credit Suisse. Plus the 198 that had other accounts in another 'fiscal paradise' -as 'offshore accounts' are called in Spain: Lichtenstein. That investigation ended with accusations against only 35 cases.
Agreements with 'fiscal paradises'
991 Spain came up with a list of offshore centres that included 48 states. Over the last couple of years, this country has signed agreements with 9 of them and negotiating with another 10. The agreements are for tax information exchange or tax evasion avoidance policies.
The latest are Andorra, Netherland Antilles, Aruba, Bahamas and San Marino, and there were prior such agreements with Trinidad & Tobago, Barbados, Luxembourg and Panama. The greatest challenge is to get agreemets signed with Gibraltar, 'the great black hole for Spain's Treasury,' as the Rock has been described.
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