Madrid, Spain - A new Royal Decree, approved by the Spanish government in March, has significantly altered the landscape of digital payment reporting, particularly for users of the Bizum platform. The new regulation mandates that all banking entities must now provide monthly reports to the Agencia Tributaria (Hacienda) detailing every Bizum transaction, regardless of the amount. This represents a major shift from previous policies, which only required banks to report transfers exceeding 3,000 euros. The primary aim of this decree is to enhance the tax agency's ability to monitor and identify undeclared income, especially among self-employed individuals and small businesses. Experts suggest that this increased transparency will allow Hacienda to cross-reference millions of transactions, making it considerably easier to detect financial irregularities. "Previously, it was difficult for Hacienda to automatically catch undeclared small Bizum payments from freelancers," stated a legal expert familiar with the new regulations. "Now, with monthly reports on all transactions, the tax agency will have a much clearer picture." However, the new rules specifically target professional activities. The video clarifies that personal transfers between individuals, such as splitting a restaurant bill or repaying a friend, are not considered lucrative activities and therefore do not need to be declared. "If you receive a Bizum from a colleague for a shared dinner, it's not a lucrative activity, and you don't need to declare it for tax purposes," the video explained. The emphasis remains on income generated through professional services or commercial transactions. Self-employed individuals and small business owners are urged to exercise heightened vigilance in declaring all Bizum-received income to avoid potential fines and penalties from the tax authorities.
La normativa que ha entrado en vigor busca mejorar la seguridad de estas transferencias instantáneas mediante la verificación para evitar fraudes y d…
