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New limitation of cash payments to € 1.000 | enumerate


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In the BOE of July 10, 2021, the Law 11/2021, of July 9measures to prevent and fight tax fraudAmong the many new features that this law introduces, we find that the limitation of cash payments between entrepreneurs is further reduced, which is reduced from 2.500 to 1.000 euros.

This  limitation of cash payments to 1.000 euros is already in force, from the day after its publication in the BOE, so that from July 11 anyone who exceeds paying more than said amount, or admits charges higher than this amount, faces significant penalties

Therefore, with the approval of Law 11/2021, point 1 of section One regarding the scope of application is worded as follows:

“Operations in which any of the intervening parties act as an entrepreneur or professional, with an amount equal to or greater than 1.000 euros or its equivalent in foreign currency, cannot be paid in cash.
However, the aforementioned amount will be 10.000 euros or its equivalent in foreign currency when the payer is a natural person who justifies that he does not have his tax domicile in Spain and does not act as an entrepreneur or professional.

It will apply to all payments made from the entry into force of the rule, even if they refer to operations arranged prior to the establishment of the limitation., that is, as of July 11, 2021.

Penalties:

The infringement for payment in cash that exceeds the limit of 1.000 euros will be classified as serious and will consist of a fine of 25% of the amount that exceeds the limit of 1.000 euros.

A 50% reduction can be applied to this penalty if the payment is made in a voluntary period and no claim is made.

Cash payment complaints:

If one of the parties that intervenes in a commercial operation that exceeds the limit of 1.000 euros, denounces the other party, the party who reports will be exempt from liability, provided that the complaint is made within 3 months from the date of the payment.

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