Bizum and the Income Statement: When Is It Mandatory to Declare Your Transactions?

Check if you are in any of these cases before filing your Income Tax Return.

Bizum and the Income Statement: When Is It Mandatory to Declare Your Transactions?
Pedro Domínguez Rojas

Pedro Domínguez Rojas

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The 2022 Income Tax Return campaign is just around the corner. A fateful date for many when we will have to present to the Treasury all the income we received last year. A time of the year that becomes quite frustrating when we have to check that all our tax data is correct, check and edit the Income Tax draft and have all the documentation at hand.

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As we have already mentioned above, one of the newest aspects of the Income Tax Return in recent times is the sending and collection of money by Bizum. Although it is a very useful function that makes our life much easier, these must also be declared to the Treasury in 3 very specific cases. Do you want to know what they are? We tell you about them.


In which cases should I declare my Bizum?

When preparing your Income Tax Return, you should check whether the Bizum you have sent and received should be declared or not. The first case in which you will have to do so is when you exceed 10,000 euros per year in transfers. If this happens, your bank is obliged to inform the Treasury of every movement you have made that year, so bear this in mind when you have to file your Income Tax Return.

The second case is when you are self-employed, in the self-employed regime. Whether you are a content writer or a small village store, if you receive income via Bizum of an employment nature you will have to declare it as it is an economic benefit derived from a professional activity.

Finally, you will also have to declare your Bizum if you receive income that has some kind of economic return. That is to say, if you have some kind of real estate for rent and you are paid via Bizum, you will have to declare the transactions as if they were a normal bank transfer.

Pedro Domínguez Rojas

Pedro Domínguez Rojas

Publicist and audiovisual producer in love with social networks. I spend more time thinking about which videogames I will play than playing them.

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