form 720

On October 19th 2017, the Tax Office published the CV 2669-17, which deals the obligation to submit a new informative declaration of assets and rights located abroad  with respect to a previously informed property when the variation in the exchange rate used to determine its acquisition value has led to an increase in the value of the asset of more than EUR 20.000.

 

Citizens or Spanish companies that are legal tax residents of Spain are now obliged to file a declaration disclosing the ownership of all non-Spanish assets to include foreign bank accounts and real estate.