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V0306-21 ·19 February 2021 ·consulta-vinculante Medium impact
Tax

Withdrawing and redepositing cash into a bank account does not constitute income for Personal Income Tax (IRPF)

A taxpayer inquired whether withdrawing cash for personal custody and subsequently redepositing it has tax implications. The DGT ruled that these movements do not constitute income, although it warned that the taxpayer must be able to prove the origin of the funds.

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2021-02-19PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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