Limitation of the cash payment to 2,500 euros

The limitation of the cash payment to 2,500 euros from companies and professionals is effective from today, according to the new anti fraud law.

Failure to comply with this limitation, which rises to 15,000 euros when the payer is an individual not residing to avoid prejudicing the money spent by tourists visiting Spain, carries an administrative penalty for both the payer and the recipient, with a penalty of 25% of the total payments made.

In addition, the Tax Office has clarified that if an operation exceeds cash paid 2,500 euros but you pay in several times splitting the payment of amounts below the legal limit, is also breaking the limitation is effective now. That is, if an operation of 4,000 euros is payable in cash in two installments of $ 2,000 each, the penalty would be 25% above 4,000 euros and thus € 1,000 in total.