Furthermore, the Spanish treasury has issued orders to all account holders, demanding a complete detail of their account(s), specifically pointing towards a fair explanation of the origin of the funds. Of course, later on, the Swiss account holders are supposed to pay penalty and taxes on their hidden assets.
Salgado told the media that the fight against monetary fraud is gaining intensity and no one knows it better than the account holders themselves. She refused to reveal the amount of money involved but said that the Spanish tax authorities received the intel on those accounts, from French officials.
According to a rough estimate, the accounts held by some of the wealthiest people of Spain, hold a sum of 4.9 billion pounds. Since 2004, Spain has recovered roughly 28 billion pounds from financial defaulters.
The Spanish Prime Minister – Jose Luis Rodriguez Zapatero informed the media about the formation of a new strategy that was intended to investigate the whereabouts of undisclosed money in national and foreign Spanish accounts. However, under the “tax amnesty” slogan, the account holders have been allowed a repatriation of funds without the need of explaining: how, when and why they were created.