When money is given to a relative, it must be taken into account that it is a donation and is not out of the surveillance of the Treasury. Donations are not exempt from paying taxes and tax donations. In addition, it must be taken into account that if it is done by transfer, there are limits that the Tax Agency establishes from which the origin of money must be justified. ButWhat is the maximum money that can be given to a relative without having to pay taxes for it?
The first thing to keep in mind is that the limits established by the State Agency of the Tax Administration (AEAT) for transfers banking that the payment of the succession and donations tax.
In the case of a donation, either by transfer or in cash, always taxes in the donation tax. That is, theoretically, although what is registered is a euro, the donation tax should be paid with the bonuses that correspond to it. Now, How much money could be donated through a transfer?
Limits established by the Treasury for Transfers
The limits established for bank transfers will be the same for a donation as for any other type of operation. The most important thing is Finance does not prohibit transfers above a certain amount, It sets amounts from which operations can be investigated and if the origin of money is not demonstrated, it may be a reason for sanction.
When carrying out a transfer, Law 10/2010, on the prevention of capital money laundering and terrorism financing, establishes that any transfer carried out by An amount exceeding 6,000 euros must be notified by the Bank to the Tax Agency.
Another amount to take into account is 10.000 euros, from this amount it will be essential that the origin of the money to the Treasury can be justified.
These limits do not imply that operations cannot be carried out, in this case donations for major amounts. These may be done as long as the origin of the money can be justified and the payment corresponding to the donation tax is made.
Finance fines for making donations by bank transfer
In the event that the Treasury detects some type of infraction in the realization of transfers, could file the corresponding sanction, That, depending on the severity of this, and as established by the General Tax Law, it can be:
- Mild: When the base of the sanction does not exceed 3,000 euros, or if it is greater, without hiding indications. The fine can be up to 50% of the amount.
- Serious: When the base exceeds 3,000 euros and there is concealment. The fines range between 50% and 100% of the quantity.
- Very serious: When fraudulent methods are used. The sanctions can reach between 100% and 150% of the amount.
On the other hand, Not presenting the settlement of the succession and donations tax when a donation is also received is also a reason for sanctionapplying the same detailed sanctions.
In addition, it may happen that present out of time, In this case, you will have to face surcharges that will be:
- Of 1% plus another additional 1% for each full month of delay (it will exclude the sanctions that could have been demanded and the interest interest).
- When 12 months have elapsed since the term established for the presentation, the surcharge will be 15 percent (it will exclude the sanctions that could have been demanded and also add interest interest).