According to Spain’s largest Spanish language newspaper “national newspaper” 11 reported on 19 May, the Spanish Ministry of Finance (Hacienda) will implement the supervision of monetary transactions last year with encryption 15 thousand taxpayers.
Under the support of Hacienda, the Spanish tax authorities (AEAT) stressed that the “new technology monitoring applications such as block chain in finance, especially encryption currency” to prevent tax fraud, as part of the annual tax control plan.
The Spanish tax department national Fraud Investigation Office (ONIF) has been investigated including 16 large banks, 10 financial intermediaries and 40 operating companies in Spain allowed fees with bitcoin or other encryption currency, selected 15 thousand taxpayers, they will undergo further tests.
The agency said, “the use of encryption currency, such as bitcoin, as a means of payment, is one of the most serious challenges. In order to deal with this threat, the tax authorities will use the new research unit of collection and analysis of information technology in various types of network. “
AEAT said that these new digital activities do not provide much revenue for the treasury. However, these measures are intended to prevent some complex, poorly standardized and transparent, because ownership of bitcoin is opaque, the deal is almost impossible to trace.
Encrypted currency transactions typically carried out by other countries in the website, the figures from market access to information is a maze. This makes some criminal groups use these money to cover up their activities. Therefore, the tax authorities to maintain great vigilance have been identified for the taxpayers, these will monitor whether the taxpayer declare their business may be capital gains or income, and to investigate whether they use digital money laundering. If possible to understand its illegal activities, in addition to condemning, they will also take action against money laundering.
According to Peng Bo reported that in order to control tax evasion, Spain plans to require encryption currency investors at home and abroad to report their assets and transactions. The Spanish government in October 20th proposed new digital currency legislation will involve any tax by Spain’s influence. Government spokesman Isabel Celaa 19, in a note published by congressional debate and approval of the planning rules and disclosure of several anti fraud measures.
In addition, the Spanish government also requires encrypted currency holders to fill 720 disclosure forms, the form provides for each erroneous or incomplete data fined 5000 euros.
In the Spanish business bank or financial platform in the possession of the digital currency, the tax authorities must be notified about bitcoin holders and the beneficiary or other digital currency amount, still need to report on digital assets held abroad. Otherwise, the maximum penalty amount can reach 150%.
According to earlier reports, in May 30th, the Spanish parliament unanimously supported the draft legislation to regulate the blockchain technology and encryption currency. The draft proposal agreed by the main parliamentary party people’s party won the finance and public functions of the Commission of all parties support. The document review and crypto currencies, such as bitcoin blockchain and relevant laws and regulations, and proposed to introduce the technology to the Spanish market through regulatory sandbox. Congress has agreed to push the block chain as a cost-effective and undisturbed payment and transfer system, and advocate a particular need to develop the financial technology start-up companies.
(I’m Odaily reporter for the daily planet Mu Showtime, exploring the real exchange block chain, broke the news, please add WeChat wsuixin12, please note Name, unit, position and reason.)