Limiting the circulation of capital is nonsense: the Government should definitiv

emonseo21

In , the then Minister of Finance, Cristobal Montoro, established the obligation to declare all assets that Spaniards had abroad as long as they exceeded , euros. This was done through the now famous Form The fines for not doing so were quite high. The change of Government that has occurred since then did not change the regulations.

However, last week the Court of Justice of the EU declared this obligation contrary to EU law , as it contravenes the free movement of capital. The court has been forceful saying that "the Spanish legislator has gone beyond what is necessary to guarantee the effectiveness of fiscal controls and fight against tax fraud and evasion."


What do we want the EU to be?
One of the advantages of the EU is the free movement of people and capital. And form (along with the D from the Ministry of Foreign Affairs, which they recently withdrew ) posed obstacles for a Spanish citizen to have his assets in another EU country .

Indeed, the Treasury excee  Romania Email List  ded its functions. Having money outside of Spain is not, as it could be forty years ago, synonymous with wanting to evade taxes. For example, international brokers provide cheaper ways to invest and any obstacle that is put in place goes against the right of citizens to seek favorable financial products.



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ON THE SALMON BLOG
SICAVs in Spain are being closed due to a change in regulations: abuses in the sector can put an end to this market
Therefore, if we want the EU to truly be a macro-State in which we can move freely, form was a nonsense that goes against this idea. Our heritage cannot be tied to the designs of the Treasury. We will have to pay the taxes that correspond to us , of course, but without inundating citizens with an infernal level of paperwork to prevent movements from being made that are completely legal.

What will the Government do now?
Now the Government must make a move. Ideally, you should remove the model . But surely this is excessive optimism, since the desire to control capital is always high in the Treasury.

Surely the Government will modify the form or raise the limits above , euros. But what they should do is withdraw it completely , or at least set it only if the goods are outside the EU, where there is less transparency and communication between administrations.