Cash payments limitation

Details

Published: Wednesday, 12 June 2013 16:58

    Recently, Article 7 of the Law 7/2012, of October 29, amending Taxation Law, budgetary and adequacy of financial regulation for the intensification of the actions in the prevention and fight against fraud, sets the limitation for cash payments for certain operations.

    In particular, it is established that can not be paid in cash transactions in which any of the parties acting as entrepreneur or professional in an amount equal to or greater than 2,500 euros or the equivalent in foreign currency. Also it is limited to 15,000 euros or the equivalent foreign currency when the payer is an individual who does not have their tax domicile in Spain and does not act as an entrepreneur or professional.

    Within these limits shall be accounted and added the amounts fractionated delivery of goods or provision of services.

In consequence we understand:

• The balance of cash received or paid to a third party for a year may exceed 2,500 euros as long as there is no isolated transaction that exceeds this figure. – Monthly bills or recapitulative can be worth more than 2,500 euros if collect isolated transactions in which no individually exceeds this amount.
• If an operation exceeds the amount of € 2,500, you can pay anything in cash.
• The payroll and any other strictly commercial operation would be affected by this limitation.
• For those operations where there is a prepayment, the criterion current Administration is that if after the operation exceeds EUR 2,500 can not be any cash payments, even the amount advanced.
• Excluded from the limitation on payments made when none of the participants in the transaction acting as entrepreneur or professional, as well as payments or deposits made in banks. This means that the cash income that is made in a bank to credit the account of a supplier, where the record of the bill that is paid is not affected by this limitation, as it is identified the origin and destination of the transaction.

It is important to bear in mind what is meant by cash. The means of payment as such are defined in Article 34.2 of Law 10/2010, of April 28, the prevention of money laundering and terrorist financing. In particular, it includes:

• Paper money and coins, domestic or foreign.
• The bearer checks denominated in any currency.
• Any other physical means, including electronic, designed to be used as payment to the carrier.

    Failure to follow limitations on cash payments constituting an offens elistedissubjectviolatorsadministrativa.Seránpersonsorentitiesbothpay as whollyorpartially receiving cash amounts specified limitation breach. Both the payer and the recipient jointly liable for the infraction committed and the penalty imposed. The State Tax Administration Agency may apply indiscriminately against any of them or both.

    The offense will grave. basis of the penalty shall be the amount paid in cash transactions equal to or exceeding 2,500 euros to 15,000 euros, or the equivalent in foreign currency, depending on whether one or other of the above assumptions . sanction shall be proportional fine of 25 percent of the basis of theactionsanción.Estagiverisetoliabilityforinfringementonthepartinvolved in the operation when reporting to the State Tax Administration Agency, within the three months from the date of payment in violation of the limitation, the operation performed, the amount and identity of the other party to. Theallegationsthatmaydevelopaftertheotherpartytoformulada.Lameans no simultaneous presentation of both involved no complaint from responsibility to any of them, so that the exemption only reach the first offen referred prescribe denuncie. Lat five years, which shall run from the day on which the offense was committed. The penalty arising from the commission of the offense shall be barred after five years, which shall run from the day following that on which the decision becomes final by imposing the sanction.