{"id":1686,"date":"2013-04-27T10:25:14","date_gmt":"2013-04-27T08:25:14","guid":{"rendered":"http:\/\/www.ataspain.com\/en\/?p=1686"},"modified":"2020-12-12T22:19:12","modified_gmt":"2020-12-12T21:19:12","slug":"tax-declaration-spain","status":"publish","type":"post","link":"https:\/\/www.ataspain.com\/en\/tax-declaration-spain\/","title":{"rendered":"Tax declaration for residents"},"content":{"rendered":"

Tax evasion prevention<\/h1>\n

\"\"According to a new law – Royal Decree 1558\/2012 – approved in November and which came into force on 1 January 2013, all Spaniards and residents in Spain have a new tax liability of reporting about all their assets and rights located outside Spain.<\/strong><\/p>\n

This new liability is part of the Spanish Government anti-fraud program to prevent tax evasion.This report requirement should be complied online by the modelo 720, between the 1 January to 31 March, although exceptionally for the first report which refers to the year 2012, the\u00a0period is from 1 February to 30 April 2013.<\/p>\n

Who is liable to present the Form 720?<\/h2>\n

Residents (individuals and entities) in Spain are obliged to report the assets below detailed if they are the owner, a beneficiary, an authorised signatory or if they are only authorized by the owner to act on his behalf.<\/p>\n

If you are non resident in Spain, this new requirement does not apply to you.<\/p>\n

Which assets have to be declared?<\/h2>\n

The following items located abroad will have to be reported if the value of each of them exceeds \u20ac50,000:<\/p>\n

    \n
  • All accounts in financial institutions<\/li>\n
  • Securities or rights representing participation in any foreign legal entity. Eg: stocks and shares in companies, bonds, obligations, trusts. Shares and share capital or patrimonial fund of collective investment institutions.<\/li>\n
  • Life insurance or disability and temporary or lifetime income, which insurance company are located abroad<\/li>\n
  • Real properties and real property rights of ownership<\/li>\n<\/ul>\n

    The submission of this informative tax return in successive years is only compulsory when the values of your assets increase by \u20ac20,000 or more.<\/p>\n

    The consequences of not providing the information requested will be considered a law infringement and sanctions and very high penalties will be applied with a minimum fine of \u20ac10,000<\/p>\n","protected":false},"excerpt":{"rendered":"

    Tax evasion prevention According to a new law – Royal Decree 1558\/2012 – approved in November and which came into …<\/span><\/p>\n","protected":false},"author":1,"featured_media":1621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[161,162,25,36,28,27,26,160],"_links":{"self":[{"href":"https:\/\/www.ataspain.com\/en\/wp-json\/wp\/v2\/posts\/1686"}],"collection":[{"href":"https:\/\/www.ataspain.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ataspain.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ataspain.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ataspain.com\/en\/wp-json\/wp\/v2\/comments?post=1686"}],"version-history":[{"count":2,"href":"https:\/\/www.ataspain.com\/en\/wp-json\/wp\/v2\/posts\/1686\/revisions"}],"predecessor-version":[{"id":2213,"href":"https:\/\/www.ataspain.com\/en\/wp-json\/wp\/v2\/posts\/1686\/revisions\/2213"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ataspain.com\/en\/wp-json\/wp\/v2\/media\/1621"}],"wp:attachment":[{"href":"https:\/\/www.ataspain.com\/en\/wp-json\/wp\/v2\/media?parent=1686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ataspain.com\/en\/wp-json\/wp\/v2\/categories?post=1686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ataspain.com\/en\/wp-json\/wp\/v2\/tags?post=1686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}