Bizum is wildly successful, and who doesn’t use it as payment with friends, family, and even stores? You could say that they are always in fashion, even among minors. But what we may not have known is that there are specific cases in which should be on your tax return.
Being close to the Income 2022 campaign, we need to think carefully about which aspects we should include and which not. The operations that we carry out must appear and as such, in some caseswe have to add the money we receive or send through this platform.
Pay attention to the three cases in which you must declare the Bizum
Fortunately, there are only three specific cases in which transactions made with Bizum must appear. In accordance with the regulations in force, if our situation meets one of the three cases and we do not do so, this could end in penalties towards our person.
But, first, see the three cases differentiated:
- The first of them is related to a quantity. If the annual number of Bizum carried out exceeds 10,000 dollars, these must be declared in the 2022 Revenues, so that the information matches. Our bank would transfer the information, but we would have to reflect it in the statement.
- The second case includes situations in which we receive income with economic profitabilitylike renting a house, via Bizum.
- Finally, this last case affects the self employed. If we use Bizum to invoice our services, we must declare the income with the corresponding VAT and personal income tax.
It also doesn’t seem like a big deal because we only have to declare our Bizum in these three cases, not those made in more common day-to-day situations. SO, we shouldn’t worry for the income statement when we send or receive money with Bizum for mundane reasons, such as a coffee or a barbecue with friends.
However, it is necessary be aware of these types of obligations in order to avoid fines or penalties. Fortunately, the banking applications allow us to follow the file with all these transactions, including the Bizum.
If we have any questions, it is best to contact an adviser who can advise us On the subject. But, as a general rule, a payment by Bizum is equivalent to making transfers or paying in cash.
Through | Xataka Mobile
