As the use of cash is being lost, there are fewer and fewer services that do not accept payment by card, and today the vast majority of transactions made in the world are virtual. . The arrival of Bizum in Spain greatly revolutionized the situation, since now users could make small transfers instantly.
The key to this is that it does not require account numbers, and It allows you to send and receive money by making movements from mobile to mobile. As we said, Bizum has become a tool used daily by millions of Spaniards, but the use of this app not only draws the attention of users and banks, but the Treasury is paying attention to all the movements that are made by here.
This is explained on its website by the OCU, the Organization of Consumers and Users: “Bizum is just another payment method, like conventional bank transfers, and The obligation to declare or not will depend on what you are receiving“Of course you have to apply logic here, and if you use Bizum to buy three beers for your friend or to divide dinner between coworkers, you won’t have to worry.
But today Bizum is also used when paying in businesses or for individuals, causing many users use this method very often and move large amounts of money throughout the year which, as we said, do not go unnoticed by the Tax Agency.
As the OCU explains, if you use Bizum to make common payments that do not involve large amounts of money, “It is extremely unlikely that the Treasury will ask for payments of this nature“However, when the amounts received are high and, above all, very recurring, they could knock on your door to ask for explanations.
These are the limits of Bizum to avoid problems with the Treasury
- When a self-employed invoice through Bizum charging for the services or goods sold that way, something that is relatively common in physical stores. Here all Bizum would have to be declared as amounts obtained within the performance of economic activities.
- When a person who owns a home receives the amounts for rent through Bizum that a tenant pays you. In this case, these Bizum must be included in the declaration as income from real estate capital.
Outside of these cases, only in those in which the movements through Bizum exceed 10,000 euros per year Yes, they would have to be declared to the Treasury.
The other limits of Bizum
On the other hand, in order to guarantee the security and proper use of its platform, Bizum also has some general limits:
- The minimum payment is 50 cents and the maximum is 1,000 euros.
- Bizum’s daily limit for sending and receiving is up to 2,000 euros per customer.
- The maximum number of operations received per month is 60 operations.
- Bizum’s monthly limit for sending money goes up to 5,000 euros per client.
- The maximum number of operations sent per month is unlimited.
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