That the Treasury has controlled the operations that imply money movements of the Spaniards, it is no secret, and in the same way that they can fine the owners of a house for selling it too cheap, they can do so for ingress or get money from bank accounts. The sanctions in the latter case could reach 150,000 euros, but What are the limits and reason for the fines?
In the first place, it must be clear that one of the main reasons why the State Tax Admiration (AEAT) monitor the money movements of the Spaniards, such as transfers, is for Prevent fiscal fraud and money laundering.
Therefore, from the Tax Agency they have the collaboration of the banks, which are obliged to inform the treasury of the movements that their clients perform when they exceed certain amounts. Those movements that are considered suspicious by the Treasury, may be investigated and sanctioned With its corresponding fine if the origin of money cannot be justified.
Revenue and cash withdrawal that could suppose fines of the Treasury
Keep in mind that, although Hacienda establishes certain limits, It does not mean that these operations are carried out. These are considered as an ‘alarm’ from which the movement may be investigated if it is considered suspicious, and in the case of not being able to justify it is when it would be sanctioned.
As for the withdrawals and income of cash, the following will have to be taken into account considerations established by the Tax Agency:
- If you want to make cash income of more than 1,000 euros, the holder must identify in the bank.
- Banks will have to inform the income or withdrawals exceeding 3,000 euros, or in which 500 euros tickets are used.
- The maximum cash limit that can be moved within Spain is 100,000 euros, so, if this amount or higher is entered or withdrawn, it will be necessary to declare it through form S1.
In the case of movements in bank accounts, Finance not only monitors withdrawals and cash income, as stated above, also does with the Transfers. For them there is no specific limit, but it must be taken into account that from 6,000 euros the bank will have to notify the Tax Agency that said operation has been carried out. If the amount is greater than 10,000 euros, it will be necessary to justify the origin of that money.
Fines and sanctions that can apply hacienda
The General Tax Law establishes three different levels of infractions based on their severity and these would be their corresponding Fines:
- Mild: If the base of the sanction does not exceed 3,000 euros, or is greater, and there are no indications of concealment. The fine is up to 50% of the amount.
- Serious: If the base exceeds 3,000 euros and there is concealment. The fine ranges between 50% and 100% of the quantity.
- Very serious: If fraudulent methods are used. The sanctions are between 100% and 150% of the amount.
Taking into account this scale, if we assume the very serious infraction, in the case of a person with 100,000 euros in cash, The Finance fine could be 150,000 euros.