British Expats - black money

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- - black money (https://britishexpats.com/forum/spain-75/black-money-654321/)

its not just spain though its the same all the world over cash is king

Quote:

Originally Posted by pip001 (Post 8336060)

its not just spain though its the same all the world over cash is king

Isn't Murdoch famous for paying accountants to make sure he doesn't pay tax? In the UK there's a bit a of a pointless squabble over the Tory chairman Lord Ashcroft giving money to the party despite the fact he doesn't pay any tax in the UK (I say pointless as it's alleged there's a Labour peer who doesn't pay tax either).

[QUOTE=cricketman;8335838]

Quote:

Originally Posted by avocados (Post 8335726)

Yes I was doubting that little annecdote.

So did I, but he's tells such lovely stories it semed a shame to spoil it! :)

Quote:

Originally Posted by jackytoo (Post 8336006)

I had to sign a form when I withdrew 25,000 euro from my spanish bank (last year). Think it is for the Bank of Spain. If you pay in more than 6000 euro there is also a B of S form to be filled in. Not so easy as it used to be. Cricketman is correct re. the house values, a lot more rigid now.

The "black" is still a big feature though. My garage always asks do you want to pay IVA or not....in other words give me the cash:rofl:

I believe the 6,000 euros is the level above which a bank must notify the Bank of Spain, if the do not know where the money came from. Thus it's probably a decision for the branch manager on a customer to customer basis. If I had just sold a house and my bank manager knew, I don't think she would be compelled to report it.

On one occasion I drew cash from one bank and deposited in my son's account. He needed the cash in his account immediately. I showed the withdrawal slip when I made the deposit. I don't think that was reported.

I think most people who could earn cash in hand and don't, don't do it because they are scared of getting caught, rather than because they are morally upright and believe the taxman should get his cut! I know this is the case for me, too worried about the "knock at the door"..