Transfers of large amounts and tax office control

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The topic of transferring large amounts between bank accounts or depositing a large amount into an account is quite controversial. On the one hand, we have freedom and democracy. There are also quite a few significant barriers to disposing of funds. On the other hand, Polish law requires banks to report transactions for amounts above certain limits. So check what amount transfers and cash deposits may be the reason for an inspection by the tax office. It is worth knowing this to avoid surprises or unpleasant situations in the future.

Transaction amounts reported by banks
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Banks must always register transactions such as transfers for amounts equivalent to at least 15 thousand euros . This applies not only to individual transfers, but also to a larger number between people with the ecuador whatsapp database data in the system. However, the information will only reach the tax office when there is a suspicion regarding the legality of the transaction.

The amount is not a fixed value, because banks have the right to reduce it . For example, Pekao Bank registers transactions between the same two clients and their bank accounts with the equivalent of at least 10 thousand euros. These regulations are regulated by the Act on Counteracting Money Laundering and Terrorism Financing. The bank is required to store the data of registered transactions for 5 years.

General Inspectorate of Financial Information
Banks do not have a system that allows them to send information directly to the tax office. They are also not obliged to make decisions about which transactions may be classified as suspicious. That is why the information goes to GIIF, or the General Inspectorate of Financial Information. This is a government organization that operates within the structures of the Ministry of Finance.

If GIIF considers that after analyzing the documentation sent by the bank there is a suspicion of a crime , information about the transactions will be sent to the tax office. Of course, the one competent for the taxpayer's place of residence. Because in Poland the offices still do not have a common, integrated and delocalized IT system.

Heavy financial penalties
penalty for undisclosed income
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If information about suspicious transfers reaches the Tax Office, you can expect a summons. In order to provide evidence confirming the legal origin of the money. It is therefore worth keeping all documentation about the funds you receive. Without such evidence, you may face a penalty of 75% tax on undeclared income.

The tax office is particularly interested in situations in which we have spent more than our earnings. They will check them based on the submitted annual tax returns - PIT. It is true that it is difficult for the tax office to calculate our actual expenses. However, a significant clue is also the PCC, or tax on civil law transactions. Paid after concluding a purchase agreement, e.g. a car or real estate.