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V1949-17 ·19 July 2017 ·consulta-vinculante Medium impact
Tax

Withdrawing cash from a bank account generally has no tax implications for Personal Income Tax

A query was raised regarding whether withdrawing cash from a bank account for future investments or payments affects Personal Income Tax (IRPF). The Directorate General for Taxes (DGT) ruled that the withdrawal itself has no tax implications, but warned of the necessity to prove the origin of the funds.

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Lifecycle

2017-07-19PublishedPublished 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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