With less and less money in cash, however, there are many who still use coins and bills to pay for their services. More abroad, where there is often reluctance to use the card due to a possible charge of commissions, the Tax Agency has clarified what is the maximum allowed from which the amount of money you withdraw from Spain must be declared.
In a constant fight against economic fraud, the Ministry of Finance has once again come to the fore to remind that there is an amount of physical money, from which its movement must be declared either within or outside national borders. With fewer amounts to go abroad, which could imply money laundering, the agency makes it clear that the fines for not reporting it can be very severe.
And it is that although there is no limit to carry in cash, Spanish law does not determine if you can take more than 500,000 or 2 euros in cash on a trip outside the borders, yes that from 10,000 euros you must declare. In amounts equal to or greater than this or its exchange rate in the corresponding foreign currency, it must be done according to the S-1 model.
The fines for the omission of this declaration in Spain are very high and reach a cost above 50% of the value
Before the corresponding customs services, this report must always be delivered as prevention of money laundering. Otherwise, the omission of such duty faces penalties of 600 euros and 50% of the seized amount. That is, the fine depends on whether the amount that you want to take abroad is 10,000, 20,000 or 350,000 euros.
100,000 euros to move and 1,000 for cash payments
In addition, with regard to movement within Spain, the limit is set at 100,000 euros. Such amount responds to both banknotes and coins, as well as checks or any other physical means. To declare before the Provincial Customs and Excise Dependencies of the Tax Agency, the amount corresponds to both euros and its equivalent in a foreign currency.
A measure that is part of the reform of the law against money laundering. and that, among other matters, the total amount to be paid in cash in a single operation has also decreased. By setting this new cap at 1,000 euros, the penalties are also strong for failure to comply or attempt to fail to respect this payment.
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