On 13 October 2020, the Spanish Council of Ministers approved a draft law on prevention and fight against tax fraud. The law includes following measures:

  • Decrease the cash payment limit to EUR 10,000 from EUR 15,000 for certain economic operations;
  • The expansion of the list of tax debtors by reducing the threshold of outstanding debts to EUR 600,000 from EUR 1 million;
  • The update and expansion of the concept of a tax haven by including jurisdictions with preferential tax regimes;
  • Restriction of dual-use software usage, which manipulates accounting;
  • Establish new rules for reporting on the possession and operation of virtual currencies located in Spain and abroad;
  • Transpose the EU anti-tax avoidance directive (ATAD) and exit tax measures for establishing rules against tax avoidance;
  • The prohibition of all tax amnesties.

The bill be presented to the Parliament for its approval. It will enter into force the day after it is published in the Spanish Official Gazette.