Spain's Minister of Finance Cristobal Montoro said on Wednesday that the fiscal amnesty produces around 40 billion euros (53.338 billion U.S. dollars) of non-declared income.

He gave this information at the Finance Commission of the Spanish Parliament, where he assured that the process of fiscal amnesty did not hide committed crimes.

A total of 29,065 natural people and 618 legal people contributed to this amount, said Montoro, emphasizing that now these accounts will pay taxes as they must, helping to the process of fiscal consolidation.

Spain's public finance collected 1.192 billion euros (1.589 billion U.S. dollars) thanks to the fiscal amnesty that allowed citizens to pay a 10 percent tax rate to legalize their non-declared accounts while firms were allowed to pay an 8-percent tax rate.

Local media confirmed that 12 billion euros (15.998 billion U.S. dollars) of the sum are non-declared and non-prescribed income that paid a 10 percent tax rate. Meanwhile, the remaining 28 billion euros (37.304 billion U.S. dollars) are prescribed incomes which are not affected by taxes.

Many considered the amount collected by the treasury a failure as the government missed the goal of 2.5 billion euros (3.333 billion U.S. dollars) , while others strongly criticized the decision to forgives people who have already defrauded the treasury.