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Spain to crack down on tax evasion

By IANS/EFE,

Madrid: The Spanish government has said it will step up the fight against tax evasion in a bid to raise an additional 8.2 billion euros (around $10 billion) in 2012.

Deputy Prime Minister Soraya Saenz de Santamaria announced the plan to crack down on tax cheats after a cabinet meeting.

She said the government will scrutinise tax returns more closely and increase coordination with revenue agencies in the autonomous regions.

The finance ministry was also considering following the lead of France and Italy and limiting the use of cash for certain transactions.