HACIENDA COMMUNIONS | The Treasury puts its eye on the money for communions: this happens if you don’t declare????

2024-01-21 13:35:27

Whenever key periods such as Christmas, tax returns or weddings, baptisms and communions approach, citizens begin to worry about a central aspect in this type of events: the money and taxes paid for it.

Although it is not the most important thing, Gifts are always welcome and are part of the most deeply rooted customs in this type of celebrations.. There are still those who prepare long gift lists in stores such as El Corte Inglés where guests can go to choose what they want to give to the honoree from among all the items they have previously selected. There are also those who take risks and choose on their own something that they think the other person will like.

But, in most cases, the gift is much simpler: an envelope with money or a bank transfer. So much so that in many invitations the account number to make the money transfer is already directly indicated.

Although this may seem like an “innocent” act of giving, the truth is that, for tax purposes, gifts of money are taxed as a donation and are regulated by the Ley 29/1987 which considers “acquisitions of goods and rights by donation any other legal transaction free of charge between inter vivos” and that they may suffer sanctions if they exceed a certain amount without declaring.

According to the Tax Agency, the lmimics current of transfers between friends or family for wedding gifts, communions or baptisms could not exceed €6,000, with banks required to notify the Treasury if this amount is exceeded according to the Money Laundering Law.