Christmas is just around the corner and shopping is an essential part of it. Between gifts and food products for traditional dinners and lunches and the occasional whims of our wardrobe, every Spaniard is expected to spend an average of 634 euros, according to a study from Deloitte.
Although it is true that since the pandemic card payments have gained traction over cash, even in Most used age groups To pay with cash, there are many people who resist and keep carrying their tickets in their bags to control spending more when buying on these dates.
However, it must be borne in mind that there is a limit on cash payments that we must respect if we do not want to earn trouble with the treasury.
New limit of 2021
Since July 2021, Law 11/2021 Set a maximum of 1000 euros in transactions One of the representatives is a businessman or professional.
The amount that has been significantly reduced over time is that in 2012 the maximum increased to €2,500.
It is important to keep this limit in mind because we expose ourselves to fines from the tax authorities if we do not respect the law. It should be remembered that a cash payment is one in which the identity of the payer is not implied, so current or business checks – such as traveler’s checks – also fall into this category.
Our fine is 25% of the total Paid cash, so taking into account the €1,000 limit, the minimum penalty would be €250.