Although each person is free to manage their money as they preferThe Treasury monitors in detail all the operations that citizens carry out in their bank accounts: In the event that suspicious movements are detected, the Tax Agency may require citizens to justify them. But not only account movements or transfers are in their sights, cash transactions are also subject to regulation, and do not comply with established standards. They can involve fines of up to 150,000 euros.
Although the State Tax Administration Agency (AEAT) can monitor any type of movement, it pays special attention to those that represent significant amounts. This can include both transfers between family members and payments of large amounts, and the objective of this surveillance is to prevent possible tax fraud or money laundering.
For this reason, and in order to avoid sanctions of thousands of euros, due to ignorance, citizens must know What are the limits established by the Treasury.
How the Treasury supervises money operations
There are various ways in which the Treasury can track and collect information on the financial movements of citizens:
- Directly requesting information from the taxpayer.
- Requesting data from third parties, such as banks, suppliers or other entities involved.
- Carrying out inspections when there are signs of irregularities.
All of this is carried out in accordance with article 93 of the General Tax Law, which obliges those involved to provide the required information.
Movements that can generate Treasury sanctions
As mentioned, both cash movements and bank transfers can be subject to sanction if they exceed certain limits established by current regulations.
Bank transfers monitored by the Treasury
There is no specific limit on transfers, but there are important considerations that must be taken into account. Law 10/2010, on the prevention of money laundering and financing of terrorism, establishes that Any operation that exceeds 6,000 euros must be notified by the bank to the Treasury.
Besides, If the amount exceeds 10,000 euros, it will be essential to justify its origin of the funds before the Treasury.
Limits for cash movements
Regarding cash, the Treasury also establishes specific regulations:
- To make a cash income exceeding 1,000 euros, The owner must identify himself to the bank.
- Banks have the obligation to report income or withdrawals exceeding 3,000 euros if they are used 500 euro bills.
- There is a maximum limit of 100,000 euros to move cash within Spain, and 10,000 euros to move it outside the country. If these amounts are exceeded, it will be necessary to declare it through form S1.
Fines and sanctions applied by the Treasury
Violations related to money movements are classified into three levels, according to the General Tax Law:
- Mild: When the base of the sanction does not exceed 3,000 euros, or if it is greater, without there being any indication of concealment. The fine can be up to 50% of the amount.
- Graves: When the base exceeds 3,000 euros and there is concealment. Fines range from 50% to 100% of the amount.
- Very serious: When fraudulent methods are used. Sanctions can reach between 100% and 150% of the amount.
For example, if a person transports 100,000 euros in undeclared cash, heThe penalty could amount to up to 150,000 euros, considering the most serious infractions.