More and more than They keep cash at home, Even more in times of High inflation and economic and financial crisis. Before any emergency, such as a small work, and appliance that breaks or an extra purchase, citizens prefer to have hand money and not have to go to the banks. Even more from a good part of the banking entities, they decided to upload their commissions.
This amount of money will have to declare it in rentbecause Hacienda could ask for explanations for its origin and start an investigation. Although the Tax Agency makes it clear that saving money at home is not illegal, it is pending the money movements that occur in Spain.
When a person spends more than he earns or what he puts in the income statement, he could awaken suspicions and force the Treasury to open an investigation in which fines and a sanction for the amount that has not been declared as well as the corresponding interests would also be included.
Amounts of more than 3,000 euros, in the farm focus
When the money is stored at home, either by having it by hand or not entering the bank, exceeds 3,000 euros It may be dangerous. Any income or transfer that exceeds this amount may be the starting point for investigation.
The Bank of Spain has the obligation to notify any movement That is done above this amount, already a consequence of this, the Treasury to ask that the income be justified. In these, for example, they would be the prize that is won in a lottery or the collection of inheritance as well as any type of extra money with similar characteristics.
This process, when the offender does not notify it or does not explain it, entails a fine that can be due to high amounts (up to 50%, even).
In what cases does Finance investigate money in cash?
Banks are obliged to inform the Treasury of the ‘suspicious’ movements that they see in the accounts. The agency will not enter to investigate any of these, but will inspect the movements of cash that may be associated with criminal activities.
When he suspects that someone is committing some of these infractions, the first thing he does is contact that person. But that should not be alarm when you are calm because nothing is done illegal (you have to remember that Having cash at home does not go against the law).
What the Treasury will request is to clarify and justify the origin of the money, that is, if it comes from work performance, or real estate and patrimonial capital, among other cases.