Reported tax amnesty

 I saw something in the C.B.N last week about a so-called Tax Amnesty - can anyone explain

what this is all about please?

 This is about getting Spaniards who keep their money out of Spain and do not pay tax on the income earned with these funds to bring them back into the Spanish economy and declare them and the income derived from them in the future.  If they do so, they will only pay a 10% tax when the funds and income are reported and normal income tax for the income in following years.  Of course, it also applies to residents in Spain of other nationalities if they are in the same situation.

It would apply to the above as well , although I wouldn't have thought there were that many as other countries have to declare foreign accounts to the holders own tax agency , it is really to try & get the 54 billion in 500€ notes that are held by spaniards under the bed, tiles etc; wherever they keep them & get them back into circulation. Does make you wonder how much is held in other denomination notes ?

I look forward to seeing how much they manage to get because in this economic climate I can't see anyone wanting to put money into the banking system until things settle down !