In general terms, mostly used payment methods for paying for goods/services in Spain are cash, debit, credit and prepaid cards, PayPal, Digital wallets, transfers and direct debits, payments between friends by mobile, wearables, QR codes.
More details are as follows.
Payment methods and cash payment limit in Spain (state level)
Public
Spain
Author: Kristina Dosen
Category:
Fiscal subject related
Views:
603
Content accuracy validation date:
13.04.2022
Content accuracy validation time:
08:24h
Content
Regarding limits to paying in cash, it is important to note that from July 11, 2021, operations of an amount equal to or greater than 1.000 EUR or its equivalent in foreign currency, in the case of payments in which one of the parties acts as an entrepreneur, cannot be paid in cash. Previously, the limit was 2.500 EUR. The penalty, if this is not applied, can reach up to 25% of the paid amount. On the other hand, the limit rises to 10. 000 EUR if the payer is a natural person who justifies that he does not have his tax domicile in Spain and does not act as an entrepreneur or professional. Furthermore, this limitation does not apply to payments and income made in credit institutions, payment institutions and cash exchange operations carried out in foreign exchange establishments open to the public.
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