Spanish Government to crack down on tax evasion

Spain will step up the fight against tax evasion in a bid to raise an additional 8.2 billion euros in 2012

Deputy Prime Minister Soraya Saenz de Santamaria announced the plan to crack down on tax cheats.

She said the government will scrutinize tax returns more closely and increase coordination with revenue agencies in Spain’s autonomous regions.

It also will use information provided by erstwhile tax havens such as Andorra, Panama, the Bahamas and the Netherlands Antilles.

The Finance Ministry also is considering following the lead of France and Italy and limiting the use of cash for certain transactions, Saenz added.