According to the National Appellate Court, this penalty cannot be imposed if no loss has arisen for the public purse.
On April 30, 2021, Sepblac published data on the activities carried out in 2020, in the exercise of its powers as the Financial Intelligence Unit (FIU), as supervisory authority and as the body entrusted with maintaining the Centralized Banking Account Register.
The law, which came into effect the day after its publication, includes important changes to a number of taxes. They include making sweeping amendments to the international fiscal transparency rules, replacing “tax haven” with “non-cooperative jurisdiction” and setting a 15% special levy on undistributed income under the “SOCIMI” regime. It also makes considerable amendments to the General Taxation Law, and changes the rules on the valuation of properties for the purposes of various taxes.