Taxes will have access to your bank account with more than 50 thousand euros

The question is not new, but the diploma was approved with votes in favor of the PS, the BE and the PCP, an abstention of the CDS-PP and against the PSD.

The legislation obliges the banks to report to the tax and customs authorities by 31 July of each year the information relating to accounts which, on 31 December of the previous year, had a balance of more than 50 000 euros.

Although Marcelo Rebelo de Sousa vetoed a similar diploma in 2016, the proposal is back on the table and will have to be voted in plenary. He then goes to the President of the Republic for promulgation.

From now on, the state will know that it has accounts greater than 50,000 euros in a bank. This measure aims to detect the signs of tax evasion, making it difficult to conceal assets. The Data Protection Commission (CNPD) considers that it is illegal to access customer accounts.

Recall that last May 9, after the issue of banking secrecy was raised during a debate between the coordinator of the Left Bloc (C), Catarina Martins, and the Prime Minister, António Costa, Marcelo Rebelo de Sousa published a note in which he recalled that he had vetoed the government decree on banking information in 2016 because of "the particularly serious situation experienced by the bank". The following day, the government approved the proposal to lift bank secrecy on the deposit accounts of citizens residing in Portugal with a balance greater than 50,000 euros.

Finance Minister Mário Centeno said at the time that the tax authority would have access to the balance, but not to the movements of the accounts.

The minister also felt that such a measure was "extremely important for the fight against tax fraud and tax evasion" by giving an "additional element to the tax administration to determine whether or not it was". there are indications of illegal tax practices for some taxpayers ".

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