This new obligation for residents to report their assets abroad valued over 50,000 must be declared by 30th April this year, (31st March on following years). This highlights the importance of ascertaining your Fiscal Residency. Your Residency dictates whether or not you have a requirement to complete this new tax form.
corralalcarazRESIDENT OR FISCAL RESIDENT. YOU MUST REPORT YOUR ASSETS ABROAD BY 30TH APRIL 2013 DEADLINE.
The Spanish Tax Office has recently introduced a new tax form concerning fraud and money laundering.
This is the tax form no. 720 and it must to be completed by all tax residents in Spain. All below mentioned assets held as of the 31.12.2012 with a value of more than 50,000 Euros must be submitted on this form between March and April 2013.
corralalcarazNew obligation to report your assets abroad
PERSONAL INCOME TAX FOR RESIDENTS (MOD.100). 2012 HIGHLIGHTS.
Personal Income Tax (commonly known as IRPF. Mod 100) must be completed by all residents even when there is no tax to pay on their income. Many residents are ignoring their responsibility of paying taxes even if they are only receiving a pension from the UK.