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V1113-20 ·28 April 2020 ·consulta-vinculante Medium impact
Tax

Withdrawing and redepositing cash into a bank account does not constitute a taxable event for Personal Income Tax

A query was raised regarding whether withdrawing cash for personal custody and subsequently redepositing it into a bank account has tax implications. The DGT ruled that this operation does not involve the acquisition of income and, therefore, is not subject to tax.

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2020-04-28PublishedPublished 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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