Finance has reinforced its surveillance on banking operations, imposing sanctions for those who fail to comply with the tax regulations. Therefore, actions such as transactions or suspicious movements could carry fines of up to 150,000 euros if its origin is not correctly justified.
For this surveillance work, from the Tax Agency have the collaboration of bankswhich are obliged to inform the treasury of the movements that their clients perform when they exceed certain amounts. It should be noted that this control not only covers traditional transfers, but also cash payments and movements in applications such as Bizum.
In what cases can the Treasury fine?
As for the withdrawals and income of cash, the following considerations established by the Tax Agency:
- If you want Make an cash income exceeding 1,000 eurosthe holder must identify in the bank.
- Banks will have to report Income or withdrawals greater than 3,000 eurosor in which 500 euros tickets are used, according to Law 7/2012 of October.
- The limit maximum cash that can be moved within Spain is 100,000 eurosso, if this amount or higher is entered or removed, it will be necessary to declare it through the S1 form.
- All loans and credits will be controlled that exceed 6,000 euros.
On the other hand, the Central Government approved in the late 2020 a new regulation to deal with fraud and limited cash payments. In this way, Law 11/2021, of July 9, regulates that The maximum amount to pay something in cash is 1,000 euros. If you want to acquire a product or service for a higher value, the customer must use another means of payment.
What fines can cause these transactions?
If Hacienda investigates these movements and detects an unjustified irregularity, you can punish for fiscal infraction. The fines, in these cases, depend on the severity and the type of fault committed. In that sense, there are three types of infraction (slight, serious and very serious), and each of them brings different types of sanction with a general character:
- Mild infraction: It can reach up to 3,000 euros and includes a surcharge of up to 50% of the amount that was stopped entering.
- Serious infraction: Surcharge between 50% and 100% of the amount that was stopped entering. It is considered a serious infraction when the base of the sanction exceeds 3,000 euros or when the infraction represents more than 50% of the base of the sanction.
- Very serious infraction: 150% of the amount not declared and can become tax crimes if the fraud amount exceeds 120,000 euros.
Taking into account this scale, if we assume the very serious infraction, In the case of a person with 100,000 euros in cash, the Finance fine could be 150,000 euros.
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