The comfort offered by Bizum makes it perfect to commit crimes. Millions of people use it daily to transfer money to family or friends, or even to pay in shops that accept this payment method, now also available on many online platforms, they confirm from UCEX.
In its incessant fight against fraud, it is normal for the Tax Agency to pay special attention to certain economic transactions that may be misleading, especially now that in full digitalization the bank scams are more common.
Taking into account that we refer to payments between people, and according to current regulations, the minimum amount to send or receive a bizum is 50 cents, while the maximum (in a single operation) is 1,000 euros. As Bizum collects on its website, a day we can send a maximum of 2,000 euros through the application, while the monthly limit to be sent amounts to 5,000 euros.
However, as long as you buy, the thing changes. We know that the Government has been working on a new Royal Decree for several months for banks to inform the Treasury about the income that entrepreneurs and freelancers receive through mobile payments such as Bizum.
It is worth mentioning that, until now, the banking entities were obliged to notify the Tax Agency when the charges received by businessmen and autonomous card, both credit and debit, overcome 3,000 euros, a restriction that now intends to eliminate itself in Bizum.
-Like other bank transactions, those carried out using Bizum are also subject to the Treasury regulations. In this way, if the Tax Agency asks that we justify the origin of money that we have received by Bizum and we are not able to do so, we would be incurring a crime, being able to be sanctioned with a large fine when we do not declare the money.
Taking the above, we find the following classification:
Mild infraction. When the amount not declared does not exceed 3,000 euros we can be fined with the same amount plus an additional surcharge of 50%.
Serious infraction. When it is greater than 3,000 euros we could face a fine of between 50% and 100% of the amount not declared. For example, if it is 6,000 euros, the sanction could be between 3,000 and 6,000 euros, depending on the circumstances.
Very serious infraction. When the fraud is greater than 120,000 euros, a fiscal crime that entails a fine of up to 150% of said figure, and can even have prison sentences.
