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New guides on the latest Spanish tax and immigration developments.
Practical tools for informed decision-making.
A taxpayer inquired whether depositing cash savings kept at home into a bank account has tax consequences. The Directorate General for Taxes (DGT) responded that the act of depositing the money does not affect Personal Income Tax (IRPF), but warned of the necessity to prove its origin.
Low for the act of depositing itself, but high regarding the obligation to provide evidence of the source of funds to avoid tax scrutiny.
The tax team reviews your specific situation.
Partner-attended · reply within 24 business hours
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