Madrid, Spain – The Spanish tax agency, Hacienda, is set to significantly increase its oversight of financial transactions, with new regulations coming into effect that will allow for closer monitoring of digital payments and bank account movements. These measures, detailed in a recent public advisory, are designed to enhance transparency and combat tax evasion. Beginning in 2026, Hacienda will gain access to comprehensive data on all Bizum transactions, the popular mobile payment service, and all entries made through Point of Sale (TPV) terminals. This means that every digital payment and commercial transaction will be subject to scrutiny by tax authorities. "From 2026, Hacienda will know all Bizums you make and everything that enters your TPVs," stated a representative from HV ASESORES, a prominent advisory firm, in a recent informational video. In an even broader move, banks will be mandated to report to Hacienda every 30 days on all account activities. This includes detailed information on account balances, as well as all deposits, withdrawals, and other movements. This regular reporting aims to provide tax authorities with a real-time overview of financial flows, making it more challenging to conceal undeclared income or assets. The advisory firm emphasized the comprehensive nature of this new surveillance, noting, "The bank will have to inform Hacienda of all highs, lows, and movements of your bank accounts." Experts suggest that these new 'radars' represent a significant shift towards greater financial transparency in Spain. While the measures are intended to ensure compliance, they also underscore the importance for individuals and businesses to maintain accurate financial records and understand their tax obligations. The message from advisors is clear: "Hacienda is the eye that sees everything."
"En 2024, se superaron los 1.093 millones de bizums en pagos a amistades o familiares, compras en comercio electrónico, donaciones o cobros y pagos e…
