Whoever has a bank account or a postal savings book carries out a series of movements to transfer money. For convenience, many Italian savers choose to credit their salary or pension to their account. Still others find it useful to bank domiciliation of bills or to top up their mobile phones or pay other taxes with electronic means. However, it would be prudent to also know which are the 3 transactions on the current account most at risk of controls by the Revenue Agency.
The greatest dangers concern the use of cash and the passage from one subject to another. Even for the transfer of money between relatives or between parents and children, traceable systems must be used, especially in the presence of large sums. The editorial staff has already indicated for this purpose “How much cash can you pay into your child’s bank account in 2021? “.
After all, the 3 transactions on the current account most at risk of the Revenue Agency controls do not always concern large amounts of money. It would be wrong to assume that only wealthy entrepreneurs and businessmen fall under the pressure of tax assessments. Even the small saver could perhaps unwittingly attract the attention of the Tax Authority to its banking movements.
The 3 transactions on the current account most at risk of controls by the Inland Revenue
The first banking operation that the tax authorities could scrupulously supervise concerns the inflow into the customer’s account of an important sum of money. The payment of liquidity to the account, as well as transfers, are among the active movements that the holder can make without limits. And yet we must be able to demonstrate where the income that does not derive from a source of income comes from. For example, it could be compensation from an insurance company or a game win or a gift from a relative. The saver who can demonstrate the motivation and the way in which he obtains the money present in bank deposit sleeps soundly.
The second operation to pay attention to concerns the movement of sums of money exceeding 5,000 euros, in particular those that the account holder transfers abroad. Indeed, the presumption of a money laundering operation originating from criminal organizations could arise.
And according to thearticle 648-bis of the Criminal Code, penalties are harsher if the offender of money laundering is committed by a professional. In this case, the credit institution may require a written declaration in which the account holder motivates the transfer of money abroad. Thirdly, you should also be cautious when you have credit cards, insurance products, deposit accounts or investments. This is especially true in the presence of bank transactions that arouse the suspicion of undeclared receipts that do not appear in the tax return.
Deepening
How much cash can you pay into the bank per month without undergoing tax checks?
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