LAW 11 /2021 9th July, measures to prevent fiscal fraud
In accordance with the EU Directive, Spain has announced that cash payments have reduced from 2.500 euros to 1.000 euros.
This means that you are not able to accept or pay for a service in cash if the invoice amounts to more than 1.000 euros. However, if the payer is a natural person who can prove that he does not have his tax domicile in Spain and does not act as an entrepreneur or professional, then this limit is increased to 10.000 euros.
Non compliance, will result in a penalty of 25%.
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Information by E.B.F Consulting S.L. E.B.F Consulting has been providing tax and accounting services to expatriates in Europe since 1999. Office is based in Lanzarote, Spain. Visit www.ebfconsulting.com for more details. Copyright© E.B.F Consulting 2021 All Rights Reserved.