The Spanish Government intensified its struggle. financial fraudAnd bank transfer They are not fruitless. In order to eliminate fraud and illegal cash movement, Tax Administration was established Treasury fines For those who cross certain limits.
While a simple transfer seems to have no obligations, the tax administration disagrees. They follow these operations closely. prevention of crimes such as tax evasion, money laundering and fraud even when committed among family members.
Treasury sets limits on bank transfers
According to Law No. 10/2010 on the prevention of money laundering and terrorist financing, A maximum limit of 6,000 Euros has been set for transfers.. When this amount is reached, the bank or savings bank is obliged to inform the Treasury.
But, If transfers exceed 10,000 euros, the tax office has the authority to initiate a transaction. investigation to verify the source of these funds. In addition, the beneficiary is obliged to report and declare this transaction in the Income Statement.
it’s important to pay attention both banks and taxpayers must report movements in excess of 3,000 euros, especially if it is carried out in 500 euro notes that are no longer in circulation and which arouse even more suspicion. Failure to comply with these obligations A fine of up to 2,500 euros.
Tips to avoid being fined from the Treasury
If you want to avoid having to justify your income by the Tax Office, you must submit the S1 model to the Treasury. On this form, you must include information about the person sending and receiving the money, as well as the source and destination of the funds. Once complete, you can present it with an electronic certificate or [email protected] PIN.
Failure to report these transfers can result in penalties Fines by the State Tax Administration (AEAT) ranging from 2% to 25% of the undeclared amount.
WhatHow much fine can you pay? tax offices? For transfers of 10 thousand euros or more, the penalty can go up to 2 thousand 500 euros. In addition, those who make mistakes in the presentation of the S1 model will be fined 150 euros.
Be careful with bank transfers! Avoid tax penalties and keep your finances in order.