Tax Agency intensifies control over cash
In order to combat tax fraud, the Spanish Tax Agency has increased its supervision on cash transactions. Surveillance on monetary movements has become stronger, and the consequences of not complying with regulations can be severe.
Established limits for cash payments
According to the new legislation, especially the anti -Fraud Act passed by 2021, significant restrictions have been set for cash operations. For example, payments that exceed 1,000 euros cannot be carried out if one party is a professional or employer. This figure has dropped from the previous 2,500 euros to strengthen control over finances.
Different boundaries for different taxpayers
For those who do not have tax address in Spain and do not act as entrepreneurs, the limit rises to 10,000 euros. However, any transaction that exceeds these limits without proper justification may result in significant sanctions.
Responsibilities of banking entities
Banks, as part of the financial control system, are required to report to the Tax Agency on certain operations of their clients. This collaboration aims to detect movements that could be suspected.
Types of operations to inform
For example, any movement that exceeds 3,000 euros must be notified. In addition, from 2025, financial institutions will begin collecting data on card payments that exceed 25,000 euros a year, sending this information to the Treasury by 2026.
Possible sanctions for breach
The consequences of exceeding cash payment limits can be severe, with fines that reach 25% of the amount exceeding the established limit. Likewise, the lack of information on transactions that exceeds 10,000 euros can lead to penalties ranging from 60,000 to 150,000 euros.
Serious infractions and their impact
Cash movements without a clear justification may be considered serious infractions, with sanctions that vary from 50% to 150% of the amount not justified.
Tips to prevent sanctions
To avoid falling into sanctions, it is essential to have a careful record of all transactions. It is advisable to justify each operation and, whenever possible, use payment methods that leave a clear trace, such as bank transfers or card payments.
Declaration of accounts abroad
If you have more than 50,000 euros in accounts outside of Spain, it is imperative to inform the Treasury by March 31 through the 720 model. Consulting with professionals in tax matters is a good practice to ensure that all legal obligations are fulfilled .
Final reflection
In an environment where financial transparency is increasingly valued, it is vital to all citizens being aware of the regulations governing cash transactions and their consequences. The responsibility for money management not only avoids sanctions, but also promotes a fairer and more secure economic system.