PENALTIES FOR CASH PAYMENTS IN AMOUNTS GREATER THAN THE ONES ALLOWED BY LAW

 

 

Since the entry into force of Law 7/2012, of 29^th October, entrepreneurs and professionals acting as such are not allowed to pay in cash transactions with an amount equal or greater than 2,500€ (or its equivalent value in foreign currency).

If the payer is a natural person who is a resident abroad and is NOT acting as an entrepreneur or as a professional, the limit shall be 15,000€.

Cash is understood as paper money, coin, bank checks and any physical or electronic means designed to be used as payment to bearer (article 34.2 of Law 10/2010, of 28^th April).

Entities intervening in the payments are obliged to keep the documentation that certifies that such operations have not been paid cash for, at least, 5 years.

In case of break of these rules, the penalty will consist of 25% of the total amount delivered in cash and will be imposed to both the PAYER and the RECEIVER.

 

For further information: http://www.fernandezbaladron.com/

 

 

 

 

 

 

NEW MEASURES AGAINST EVICTION PROCEDURES

Since the beginning of the economic crisis, forcible evictions have been a constant in Spain. Particularly affected are people who have lost or are in risk of losing their job and have difficulties entering or re-entering the labour market.

Recently, the Royal Decree-Law Nr. 5/2017, of 17.03.2017, has approved the following two important measures to protect people considered to be in risk of social exclusion:

1.      Eviction procedures can be suspended to a maximum of 7 years. This term ends on 05.05.2020, since the deadline runs from the entry into force of Law 1/2013.

 

2.      In case the eviction has already occurred, they may request from the creditor the rental of the house for a maximum annual rental price of 3% of knockdown price. The deadline for requesting it is six months, from the entry into force of the RDL Nr. 5/2017.

The most significant group of people in situation of social exclusion are those who have suffered a significant alteration of their economic circumstances in the last 4 years. This alteration occurs when the result of dividing the mortgage burden into the rent had increased, at least, 1,5.

Other people in situation of social exclusion are the following:

1.      Large families

2.      Single parents

3.      Families with a minor

4.      Families in which a member has a disability greater than 33%

5.      Victims of gender violence

6.      Debtors over 60

7.      Families living with disabled, dependant or serious ill people.

The RDL Nr. 5/2017 has entered into force on March 18th of 2017.

 

 

http://www.fernandezbaladron.com

Luisa Fernández Baladrón is a registered lawyer at the I.C.A.I.B.