Spain’s tax authority is cracking down on digital banks and pre-paid cards – Could this affect me?

Perhaps you had to ditch your UK bank account after Brexit and opened an account with Wise or ING. Or maybe you signed up with Revolut or N22 because you are non-resident and want to move money about without messing with Spanish tax authorities? Look out! Such digital banks are being closely scrutinised by Spain’s Hacienda, since there’s evidence that digital platforms are widely used for money laundering and tax evasion. Prepaid credit cards are a useful tool for anonymous payments and are also under the tax inspector’s microscope. This Thursday, October 2nd, we will look at what Hacienda is up to and how this might impact us.