Italy: 1000€ limit
But remember that Italy has the second highest tax evasion in Europe (first is Greece)
Topic: Spain Bans Cash Transactions Over 2,500 Euros (Read 1790 times)
Reported on Bloomberg now too:
http://www.bloomberg.com/news/2012-04-11/spain-to-limit-cash-transactions-to-fight-tax-fraud-correct-.html
http://www.bloomberg.com/news/2012-04-11/spain-to-limit-cash-transactions-to-fight-tax-fraud-correct-.html
A great article somewhat related:
ALL TRANSACTIONS TO BE CONDUCTED IN THE PRESENCE OF A TAX COLLECTOR
http://www.sovereignman.com/expat/all-transactions-to-be-conducted-in-the-presence-of-a-tax-collector
ALL TRANSACTIONS TO BE CONDUCTED IN THE PRESENCE OF A TAX COLLECTOR
http://www.sovereignman.com/expat/all-transactions-to-be-conducted-in-the-presence-of-a-tax-collector
These are cash transactions between professionals, so it really isn't a big change. There was a limit on unidentified cash deposits on 3000 (maybe they lowered this too, I haven't visited in years) and there's the limit in cash you can take into the plane which is similar in the USA and most places in the West IIRC.
This basically tries to avoid the typical 3000€ plumber/gardener payment in cash without declaring VAT or profit. Not that it will work, mind. It was illegal already, now it will be illegal on 2 accounts.
This basically tries to avoid the typical 3000€ plumber/gardener payment in cash without declaring VAT or profit. Not that it will work, mind. It was illegal already, now it will be illegal on 2 accounts.
So just to get a running total is there a list anywhere of all the "free" western countries that have cash restrictions?
Greece EUR 1500
Spain EUR 2500
Italy EUR 1500 (?)
USA $ 5,000
It is becoming pathetically transparent that fiscal freedom is NOT a priority for Western governments.
I'll give you news even more outrageous than that.
Portugal Bans Cash Transactions Over €1000
lol -> but I'm serious. If it's not law by now it will be very soon. EDIT: By June 30 it will be implemented.
I should add that only payments made to Businesses will have this limits and will need to be made using cheque, bank transfer, credit or debit card, etc.
Individuals can still pay each other sums above €1000... for now, at least!
Portugal Bans Cash Transactions Over €1000
lol -> but I'm serious. If it's not law by now it will be very soon. EDIT: By June 30 it will be implemented.
I should add that only payments made to Businesses will have this limits and will need to be made using cheque, bank transfer, credit or debit card, etc.
Individuals can still pay each other sums above €1000... for now, at least!
I think this topic should be moved since this seems quite important and isn't getting much attention. Perhaps to the main Bitcoin discussion section.
We know that Spain is next in line for financial turbulence. The imposition of capital controls shows that the government is preparing for this eventuality.
Here is the original article in Spanish. Perhaps someone who is fluent might make a short comment mentioning Bitcoin as an alternative.
http://www.libremercado.com/2012-04-11/rajoy-prohibira-los-pagos-en-efectivo-superiores-a-2500-euros-1276455428/
We know that Spain is next in line for financial turbulence. The imposition of capital controls shows that the government is preparing for this eventuality.
Here is the original article in Spanish. Perhaps someone who is fluent might make a short comment mentioning Bitcoin as an alternative.
http://www.libremercado.com/2012-04-11/rajoy-prohibira-los-pagos-en-efectivo-superiores-a-2500-euros-1276455428/
The island we're building is becoming ever more important.
http://blog.alexanderhiggins.com/2012/04/16/spain-bans-cash-transactions-2500-euros-119031
The eurocrats are banning cash left and right to better tax the euroserfs.
This sounds uber-bullish for BTC (until they will try to ban them too).
The eurocrats are banning cash left and right to better tax the euroserfs.
This sounds uber-bullish for BTC (until they will try to ban them too).
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