Withdrawing cash? In Spain you now risk a fine of up to 150,000 euros - NieuwRechts.nl

The Tax Agency, in collaboration with banks, has set specific thresholds for monitoring cash transactions.

The Spanish tax authorities are cracking down on cash. Anyone who withdraws money from their account without reporting it to the tax authorities will risk a hefty fine. Even for small amounts, the newspaper El Español reports. The measure is intended to combat black money and the informal economy. But critics fear a new step towards financial control.