Due to the digitalization of more and more aspects of our lives, users increasingly require tools and services that facilitate this online activity. Among the different areas that exist, Bizum has emerged as the banking solution in Spain, since this platform offers a quick and easy way to send and receive money.
Whether it is to pay for a few beers, our share in a dinner or even to pay in a business that does not have a dataphone, The arrival of Bizum seven years ago completely revolutionized what we do with money.
Although it is true that initially this service was extended in order to allow transfers of small amounts of money, its use has been extended to larger amounts which has led financial institutions to have to establish a series of limits and controls with the number of bizums allowed and maximum quantities that can be sent.
All the advantages that Bizum offers have meant that other ways of sending money are relegated to specific cases where there is no other option, which, as we said, has led to Both banks and the administration are increasingly monitoring what happens in this type of shipments. instant.
This has made users have to be more careful with shipments, and even the concepts they put, if they do not want get a bad surprise either with a fine of up to 150,000 from the Treasury or a call from the police station.
But in today’s case we focus on those cases that you should avoid if you do not want to have an unpleasant run-in with the Tax Agency due to misuse of Bizum.
Three cases in which the Treasury can sanction you for misusing Bizum
Due to the high use of Bizum, users are now required to declare their movements in up to three specific cases if they do not want to be penalized with fines of up to 150.00 euros. The first of them is governed by the General Tax Law, which establishes that You must declare the money if the accumulated annual total exceeds 10,000 eurosIf you don’t do it you could face a fine of up to 5,000 euros.
Another of the sanctionable cases in Bizum is that of not declare if you receive income or carry out a transaction derived from an activity that generates profits. Finally, the Tax Agency could sanction those companies that use Bizum to receive payments for their products or services and do not declare them.