European Commission Says Spain Imposing 'Disproportionate' Sanctions
The European Commission referred Spain to the European Union’s Court of Justice for imposing “disproportionate penalties” on Spanish taxpayers who violate sanctions, the EC said in a June 6 press release. Spanish taxpayers must report on any properties, bank accounts…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
or financial assets they hold abroad, the press release said, and are sanctioned if the information is not reported accurately or on time, sometimes facing sanctions “higher than those for similar infringements in a purely domestic situation.” The EC said Spain’s sanctions penalties are “disproportionate and discriminatory,” and may “deter businesses and private individuals from investing or moving across borders in the Single Market.” Spain’s sanctions are “in conflict with the fundamental freedoms of the EU,” the EC said.