Message from the Treasury to thousands of Spaniards: completely prohibited from today

The Tax Agency has issued an important notice for all Spanish citizens. The truth is that Hacienda has tightened restrictions on cash payments.

These measures aim to prevent tax fraud and ensure transparency in economic transactions. Take this warning from Hacienda very seriously if you don't want to have problems with the tax authorities.

The Tax Agency sends a message to navigators: you can't exceed this figure

Law 7/2012 establishes that cash payments equal to or greater than 1,000 euros are not allowed. We refer to when one of the parties acts as a business owner or professional.

This limit increases to 10,000 euros in a specific case. We are talking about the payer being an individual without a tax domicile in Spain and not acting as a business owner or professional.

Assumptions and exceptions in the cash payment limit

It is important to note that these restrictions don't apply to payments and deposits made in credit institutions. Nor to cash currency exchange operations carried out by authorized establishments.

Additionally, splitting payments to circumvent these limits is not allowed. That is, dividing a transaction into smaller payments to not exceed the established threshold is prohibited.

Consequences of non-compliance with the regulations: Hacienda makes it very clear

Non-compliance with these limitations can lead to significant penalties. The fine can amount to 25% of the cash amount paid that exceeds the allowed limit.

Therefore, it is essential that both individuals and professionals ensure compliance with these regulations to avoid possible penalties. Hacienda makes it very clear, and we should not play with fire in these cases.

You must do this to avoid Hacienda penalties

To avoid penalties, it is recommended to use alternative payment methods to cash. We are talking about bank transfers or card payments, especially in transactions that approach the established limits.

You must keep payment receipts for at least five years. Meanwhile, the Tax Agency may require their presentation to verify the correct execution of transactions. Additionally, don't attempt to split payments to circumvent the limits, as this practice is prohibited and may be subject to penalties.

These measures aim to promote a more transparent economy and combat tax fraud. It is everyone's responsibility to comply with current regulations and contribute to a fairer and more equitable society.