2023-10-28 09:33:36
Hacienda monitor bank transfers very closely: It doesn’t matter if it’s a family member, a friend or a stranger. The important thing is how much the amount of money transferred amounts to and, according to the Law 10/2010, of April 28, on the prevention of money laundering and the financing of terrorism, this It cannot exceed 10,000 euros.
If we talk about online transfers, the cap is 6.000 euros. Once these figures have been exceeded, the Tax agency I could investigate the origin of the money, Therefore, both the sender and receiver of the money must include it in the statement of income.
How to declare money if it exceeds the legal limit
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To add it to the income Form S1 must be completed from the Tax Agency, reporting the following data:
Receiver/emitter
Origin of the amount of money
Destiny
Concept
Fines for not declaring money
If you exceed 10,000 euros – or 6,000 online – and you do not declare it, Fines from the Ministry can amount to up to 2,500 euross of sanction. The total amount to be paid It will depend on the money you have transferred. It can be between a 2% and 25% the undeclared amount. But if you declare, and some of the data provided is incorrectthe fine will be 150 euros.
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