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A query was raised regarding whether withdrawing cash and subsequently redepositing it into a bank account affects Personal Income Tax (IRPF). The Directorate General for Taxes (DGT) ruled that this movement has no tax implications, though it warned that the origin of the funds must be proven upon deposit.
Neutral for taxpayers performing simple cash movements, provided they can substantiate the source of the funds to avoid scrutiny.
The tax team reviews your specific situation.
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