The declaration of assets abroad affects Spanish tax residents, whether they are Spanish nationals or not, and they are obliged to file a declaration informing them of the assets they own abroad, known as Form 720. Having certain minimum exemptions for not filing it and a structure of types of goods, its completion is complex since the detail of the information and the valuation of the goods is specific in each case.
Having caused a lot of controversy with this model, as it had an exorbitant penalty procedure and was designed in such a way that the obligation to declare the information was never time-barred, the European Union has urged the modification of the most controversial points in favour of the taxpayer.
The firm has specialised in the preparation of this report and the updating of the data year after year in order to comply with the current regulations.