The Tax Agency establishes mechanisms to combat all types of actions related to tax fraud, such as money laundering
More and more Spaniards have put cash aside and replaced it with card payment or virtual payment apps, for example bizum. This change can be noticed especially in the youngest, although this does not mean that there are still no users who visit the ATMs.
Fight tax fraud
Hacienda, with the intention of avoiding tax fraud, imposes a limit, which cannot be beat, of the money that a person can withdraw from the ATM per day. Although there is no fixed limit for banks, since each one sets its own limit, lThe figure is usually around 600 euros, but can be modified by the user. Although it will only be possible if this change is found between what is established by law.
A maximum of 3,000 euros
At present, the Tax agency allows them to withdraw, at most, 3,000 euros from an ATM, and in case you want a higher amount, you will need a receipt from the bank office, which would notify the movement both to the Bank of Spain What to the Tax Agency.
The same happens if the movement is reverse. Although having cash is not illegal, it is very likely that the Treasury’s alarms will go off if an income of more than 3,000 euros is made to a bank account. All of it regardless of whether it is a one-time or periodic income. The same would happen if these operations included banknotes 500 euros (very rare), even if the amount was less than 3,000.
Even so, from 1,000 euros the corresponding bank can request both a receipt of the operation to be carried out and the identification of the user.
According to the article 39 of Law 35/2006, which regulates personal income tax all assets or rights that are not related to income or assets declared by the taxpayer will be considered as unjustified equity gains.
It is very important to prove its origin, since, in this way, the Treasury ensures that no type of tax fraud is being committed, such as money laundering.
These kinds of inspections they are not frequent in particular, unless a very high income or withdrawal of money is detected.