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Starting next February, financial institutions will provide monthly information to the Tax Agency on the accumulated turnover of operations carried out through Bizum by entrepreneurs and self-employed persons established in Spain, in the context of their economic activity. Therefore, from now on, all transactions are reported, regardless of the amount.
This obligation is part of a regulatory modification approved in April 2025, which seeks to improve the fight against tax fraud and adapt information obligations to new digital means of payment.
We give you all the details on this matter.
What information must be provided?
Financial institutions will provide monthly:
- Complete identification of business owners or professionals adhering to the collection management system through Bizum or equivalent systems.
- Number of the business they operate with.
- Sales terminals.
- Monthly amount invoiced with Bizum.
- Identification of the bank or payment accounts through which payments are made by business owners and professionals.
Do private individuals have to declare their business dealings?
No. According to the Ministry of Finance and the Tax Agency, payments and collections between individuals through Bizum are excluded from this reporting obligation.
Thus, a Bizum between friends or family, even if it is high, does not generate a specific declaration obligation or an additional report by the individual user.
How do I declare the Bizum to the Treasury?
Although the Treasury will directly receive the data on collections and payments from the financial institution, the obligations corresponding to the self-employed and SMEs do not disappear.
In fact, it is more important than ever to maintain orderly accounting and comply with tax requirements.
Therefore, we recommend that you have an invoice for each transaction made through Bizum. Even if the amount is small, record the income in your accounting book, like any other income from the sale of goods or the provision of services, declare the income on the corresponding tax forms and separate personal and professional bank accounts.
If you need more information, do not hesitate to contact DATA AND SERVICES.