Tax Agency Doesn't Warn Anymore: if You Forget to Do This, Expect the Worst, You'll Pay Dearly

The Tax Agency, known as Hacienda, has intensified its controls over taxpayers who make changes to their tax information. It is essential to notify Hacienda of any modifications in your personal data, such as a change of address or other relevant changes. Failing to do so can lead to significant consequences and penalties.

Hacienda Warns Taxpayers: Obligated to Do So

Hacienda has paid special attention to the banking movements and financial transactions of citizens. The Tax Agency will fine those who deposit or withdraw money without adequate justification. This measure aims to combat tax fraud and ensure that all transactions are transparent and properly documented.

Additionally, Hacienda has begun sending informational notifications, known as 'fear letters'. They are sent to taxpayers whose income tax returns show discrepancies with the data held by the Agency. These letters warn of possible errors that could lead to future penalties.

Why Is It Mandatory to Notify Hacienda of Changes in Your Personal Data?

Keeping your tax information updated is essential to avoid misunderstandings and possible penalties. Hacienda uses your personal data to communicate with you and to ensure that you comply with your tax obligations.

If you make changes, such as a change of address, and do not notify them, you could stop receiving important notifications, which could lead to unintentional non-compliance. Not informing Hacienda about modifications in your personal data can have several consequences:

• Lack of Communication: You might not receive important notices or requirements, which could lead to tax non-compliance.
• Economic Penalties: Hacienda can impose fines for not keeping your tax information updated.
• Legal Problems: In severe cases, lack of communication can lead to legal proceedings.

Penalties for Not Notifying Changes to Hacienda

Penalties vary according to the severity of the omission and in unjustified deposits or withdrawals fines can be classified as minor, up to 50% of the unjustified amount. Serious infractions generate fines between 50% and 100% of the amount in question and very serious ones up to 150% of the value of the unjustified movement.

Transactions between family members exceeding 3,000 euros must be reported to Hacienda. Failing to do so can result in penalties ranging from 50% to 150% of the amount that should have been initially paid.

Do This to Avoid Unexpected Penalties

To keep your tax situation in order and avoid possible penalties update your data. Notify Hacienda of any changes in your personal data, especially changes of address.

Keep documentation that supports significant deposits or withdrawals in your bank accounts. If you make or receive donations, make sure to declare them correctly. Consult with a tax professional to ensure compliance with all your obligations.