Bizum in the Income statement: do you have to notify your movements?

The term to present the IRPF for the year 2022 will begin on April 11, 2023 and will end on June 30. Taking into account the proximity to start filling out the Income statement, you may have doubts about it.

For example, if during the past year you have started to use Bizum frequently and have made a large number of movements, does that mean that you have to include them in the Income?

Bizum in the Income statement

Bizum and Income 2022

For tax purposes, the movements made through Bizum basically have the same consideration as any other bank transfer, which in the end is what this service is, no matter how much it uses the shortcut of “sending money to a phone number”.

That is why the transactions carried out by Bizum are communicated to the corresponding tax authorities, since movements must be controlled by regulation 10/2010 on the prevention of money laundering and terrorist financing . Thus,

So, as a general rule, it is not necessary to declare the Bizum as it is not necessary to do it with normal transfers. The Treasury sets the limit of money that can be sent by Bizum without having to include it in the Income statement at 10,000 euros in the year for which accounts are rendered (although payments are subject to tax control, they are exempt as is the case with transfers ).

Three cases in which to declare your Bizum

However, there are three clear exceptions to the rule and there are three clear situations in which we are obliged to declare our payments made or received through Bizum. The first of them is the most evident reading the previous section. When the limit of 10,000 euros is established, if the volume of your transactions has exceeded it, you must indicate these equity differences in the 2022 Income (as would happen with transfers).

Hacer un Bizum

If you reach 10,000 euros in Bizum, you must declare these movements through the S-1 model . Otherwise, the sanctions you face are between 600 euros and up to 50% of the amount sent, according to the Treasury website. The fines amount to 60,000 euros if they are light or 150,000 euros if they are serious, so it will be vital that you justify the origin and destination of the money.

Another of the assumptions to have to declare the Bizum in the Income is that we use this means of payment to receive income from those considered to be economically profitable . For example, if you are paid to rent a flat or a parking space, you must enter these amounts regardless of the way in which the money was sent to you.

The last case is that of self-employed workers (autonomous) who use Bizum to charge for their services and thus receive the money for which they have invoiced their services. In this case, you must provide proof of income together with the corresponding VAT and personal income tax.