The Tax Office is one of the most feared institutions in Spain, but it should not be like this: we have admirable public health and education thanks to tax collection. Even so, many people start to tremble when it comes time to file their income tax return.
One of the biggest doubts about treasury and income declaration is How are they taxed? bank transfer and from what amount the institution begins to investigate them.
With the development of electronic banking in recent years, such banking transactions have increased. merger bizum to the service package. Thanks to these tools, we can exchange large amounts of money within a few days or seconds.
During You can transfer up to 500 Euros through Bizum The amount to be declared is very different when we make a bank transfer in just a few clicks.
Border
According to the General Tax Law, banks are “obliged to submit to the Tax Administration all kinds of data, reports, background information and supporting documents of tax importance related to the fulfillment of their own tax obligations or arising from their economic, professional or financial activities.” relationships with others”.
The amount of money you must declare to the Treasury is 10,000 Euros: Starting from this amount, citizens are obliged to include it in their income tax returns.
Although the mandatory amount to be declared to the Tax Office is 10,000 Euros, it should not be forgotten that: the body follows all movements and you can ask the bank to provide you with data regardless of the amount sent.
sanctions
Taxpayers must account for transfers exceeding €10,000 through the SI model.They face sanctions of up to 50% of the amount sent with 600 Euros.
Additionally, small fines of up to 60,000 euros may be imposed if the source of the money is not justified; or very serious, more than 150,000 euros.