2024-01-07 13:48:00
Bizum It is one of the most common forms of payment between friends and family to pay off debts or pay cheaply for lunches, dinners or a few simple drinks. Its simplicity and immediacy make it a very popular tool since its arrival seven years ago. It is no longer only used to make small transfersbut also to do purchases in physical and online stores. Its success is such that the majority of financial entities have been forced to establish some boundaries both in the number of operations like in the maximum amount of money that can be received or sent.
The service has become so popular that it has displaced other forms of payment, such as transfers, which take longer to arrive, and practically everyone now makes bizums. The platform is included within the application of each user’s financial institution and Its functions have been extended increasingly. That is why Spanish banks They have updated the app limits y have gone on to set the maximum payment limit of 1,000 euroswhen before it was 500 euros.
You have to be careful with the rules of use of Bizum If you want to avoid the possible fines that the Treasury can impose and which can reach up to 150,000 euros.
Movements must be declared in three specific situations, in which the bank could initiate an investigation:
If the accumulated annual total exceeds 10,000 euros, as stipulated by the General Tax Law. If not declared, it could incur a fine of up to 5,000 euros by the Tax Administration.
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If an income is received or realized a transaction derived from an activity that generated profits.
In the case of companies that use Bizum as a method of receiving payments, they must declare income from services or sales obtained through this means.
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