Treasury will face numerous millionaire refunds after having incorrectly applied the penalties for the declaration of assets abroad. This is due to an unfavorable ruling by the Tax Agency (AEAT), backed by both the Spanish judiciary and the European Court, which considered the fines imposed on taxpayers for hiding assets abroad to be excessive. As… Continue reading Tax advisor: Treasury will have to reimburse large amounts to reverse the penalties of model 720
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Tag: model 720
Tax Advisor: Assets abroad do not exempt you from paying taxes in Spain
Owning assets abroad does not make you exempt from your tax obligations. It is necessary to know which of these possessions must be declared and how to do it. In the first quarter of the year it is necessary to submit Form 720 specifying the assets located abroad. It is an informative form so that… Continue reading Tax Advisor: Assets abroad do not exempt you from paying taxes in Spain