Transferring money through a bank may not seem complicated, but it can cause more problems than it seems. The Tax Agency may impose fines depending on the import of the transfer. In addition, the Treasury takes issues related to fraud and money laundering very seriously, which means that the sanctions are more serious if certain amounts of money are exceeded. Therefore, it is essential to know the possible consequences of bank movements.
It is important to remember that by making a transfer, tax liability cannot be avoided under any circumstances. The Treasury is relentless on these issues and, in fact, Article 6.1 of the Civil Code makes it very clear: “Ignorance of the laws does not excuse compliance.” That is to say, that ignorance of a rule cannot be a justification for breaching it. Therefore, it is essential to be aware of current tax regulations to avoid problems with the treasury.
In addition, it is important to note that transfers between family members are also subject to tax. In this case, they are included in the Inheritance and Donations Tax, which implies that a certain percentage must be paid depending on the autonomous community in which the payment is made. Therefore, it is important to be informed about the tax conditions that apply in each case to avoid possible penalties from the Treasury.
Treasury fines 2,500 euros for these bank transfers
First of all, any change of location or position of the money outside the home of the holder of the means of payment will be considered as a movement, according to the Tax Agency. Means of payment include both paper money and metallic, national or foreign money, as well as checks, promissory notes or bearer payment orders. Non-registered prepaid cards and coins that contain at least 90% gold are also considered means of payment.
Law 10/2010 on the prevention of money laundering establishes that, although the transfer limit is 10,000 euros, most banks limit digital movements to 6,000 euros. 10,000 euros in national or foreign currency, as well as movements within the national territory for a value equal to or greater than 100,000 euros in national or foreign currency.
If the Tax Agency is not notified about a transfer, fines ranging between 2% and 25% of the undeclared amount may be applied. If the amount transferred without notification exceeds 10,000 euros, the fine would be 2,500 euros. A fine of 150 euros can also be imposed if they present models with incomplete, inaccurate or false information.
What is the deadline to appeal a fine imposed by the Treasury?
It is essential to be aware of the deadlines established to appeal a fine from the Treasury, since this can be decisive. In general, one month is available from the date of notification to file the corresponding appeal. It is key to be with the requirements and the procedure, because any non-compliance can lead to the dismissal of the case.
In addition, all infractions must be paid and fulfilled in full. However, there are specific circumstances in which you may seek the assistance of an advisor to challenge a fine that you believe is unfair. Despite this, it is important to remember that all laws and regulations must be respected and complied with.
