Law 11/2021, OF 9 JULY, ON MEASURES TO PREVENT AND COMBAT TAX FRAUD has introduced, among others, the following new features with effect from 10 July:
– Transactions, in which any of the intervening parties acts as a businessperson or professional, with an amount equal to or greater than 1,000 euros or its equivalent in foreign currency, may not be paid in cash. Previously, the limit was set at 2,500 euros.
– The holding of virtual currencies (crypto-currencies) located abroad of which you are the holder, or in respect of which you are the beneficiary or authorised or in some other way have the power of disposal, held by persons or entities that provide services to safeguard private cryptographic keys on behalf of third parties, to maintain, store and transfer virtual currencies, must be declared on form 720.