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Bizum has revolutionized electronic transfers

Bizum under the Treasury’s scrutiny: banks will report their income to the Tax Agency

The rise of this payment method has caught the attention of the Tax Agency, but does it affect Bizum payments made between individuals?

Redacción Monday, March 17, 2025 / 09:05

“I’ll give you a Bizum.” This phrase is now part of everyday language in Spain, reflecting the success of this mobile payment platform. Since its launch in 2016, Bizum has revolutionized electronic transfers, reaching an average of 35 transactions per second and representing 95% of instant transfers in the country.

However, the rise of this payment method has caught the attention of the Tax Agency. Following the line of controls applied to platforms like Vinted and Wallapop, the Government is preparing a royal decree that will regulate the use of Bizum and other similar applications. Under this regulation, banks will be required to report to the Treasury the income that self-employed individuals and businesses receive through mobile payments.

Changes in Bizum taxation

Currently, banks are only required to report card payments exceeding €3,000 annually. However, with the new regulations, this limit is eliminated and the obligation to declare any income received through Bizum or other electronic systems is extended, regardless of the amount or the payer’s address.

According to Benjamí Anglès, a professor of Law and Political Science at the Universitat Oberta de Catalunya ( UOC ) and an expert in tax law, the Tax Agency will be able to know in detail the income that entrepreneurs and self-employed workers receive through these platforms. “From now on, banks will have to file monthly returns with information on the amounts and the recipient accounts,” explains Anglès.

WILL IT AFFECT INDIVIDUALS?

In principle, this change will not affect individual users who use Bizum for transfers between friends or family, as long as the transfers do not exceed €10,000 per year . However, the Treasury will be able to access this data, making public, from a tax perspective, actions that were previously perceived as private.

“When a payment is made to a business owner or self-employed person using a mobile system, both parties must be aware that the Tax Agency will be able to access the transaction,” warns Anglès. Based on this information, the Treasury can conduct checks and inspections to verify that each payment is being declared correctly.

With this new regulation, the Tax Agency strengthens its control over electronic payments and invoicing for economic activities carried out through Bizum, ensuring greater tax transparency in these types of transactions.

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