Spanish Property Insight › Forums › Spanish Property Forums › Property Questions & Answers › Declaring foreign bank accounts to the Spanish government › Re: Re: Declaring foreign bank accounts to the Spanish governmen
I think you have summed the proposed tax laws up very well. The fact is that Spain is tightening up everywhere in an attempt to haul in revenue which the country desperately needs. France is doing the same thing.
There is huge capital flight from both countries happening as a consequence of the risks associated with the eurozone crisis and higher taxation and governments want to know where it’s all gone. 🙁
The real question is not the extent or scope of the new tax laws it’s the implementation and policing in practice which really matters. Spain is historically fairly hopeless at that, France is not. Money always leaves a trail.
If you consider yourself as risk get some good advice from a Spanish tax accountant.