The 2023 Income Statement is approaching and, like every year, taxpayers are starting to prepare to meet their tax obligations. However, with the increasing use Us as payment methoddoubts arose as to whether it is necessary to include income generated through this platform in the declaration. answer tax offices net: yes, in some cases.
Bizums are also included in the 2023 Income Statement: Find out if you should include them
cumulative annual income figure, received must be declared.. Economic movements between individuals or companies If it exceeds 10,000 Euros, it is mandatory to report them. Although Bizum allows a maximum of 500 euros per transaction and up to 5,000 euros per month, this figure is unlikely to be achieved in a single payment.
in another case must be to announce income generated through our when used as a method of payment in a business earning income through economic profitability as in the sale of goods and services. In these cases, the income received through Bizum should be included in the income statement.
Finally, Self-employed people who use Bizum to obtain their services must also declare the income received.. In this case, the income is linked to professional or business activity and must be subject to personal income tax and VAT.
The penalty awaiting you if you do not declare Bizum
It’s important to pay attention In case the income from us is not declared In the above-mentioned cases, the Treasury may impose a fine along with the late fee. This The fine can range from 600 Euros to 50% of the transferred amount.It means an important financial expense for taxpayers who do not fulfill their tax obligations.
Therefore, taxpayers should be aware of their tax obligations and Declare all income received through Bizum in relevant cases. Like this, Treasury sanctions and fines will be avoided. Although Bizum is a very practical tool for making payments on a daily basis, it is important to know the tax regulations in order not to have problems with the 2023 Income Tax Return.
As a result, the increase in Bizum usage in recent years has caused many taxpayers to wonder whether they should declare their income on this platform. The answer is yes in some cases. It is essential to know the tax legislation in order to avoid penalties and fines from the treasury.