In line with the law on tax evasion, 131,400 people declared ownership of foreign assets — bank accounts, stock holdings and property with a value of more than €50,000 euros — in April this year.

The total worth of the assets declared amounts to €87.7bn, an average of €667,000 per declaration, which is equivalent to 8.3 per cent of Spain’s GDP.

Announced on May 22 by Prime Minister Mariano Rajoy, the figures are well “in excess of the government’s expectations,” notes Cinco Días.