Model 720: Declaration of assets and ownership overseas

Описание: If you have overseas assets that fit into any of the three groups (see below) and amount to or exceed 50,000 euros, and only for the group in which this amount is exceeded.

𝐃𝐨 𝐈 𝐧𝐞𝐞𝐝 𝐭𝐨 𝐬𝐮𝐛𝐦𝐢𝐭 𝐢𝐭 𝐞𝐯𝐞𝐫𝐲 𝐲𝐞𝐚𝐫?

🔶 Once you have made the 720 declaration, regarding your assets overseas, you then only need to declare your overseas assets in subsequent years, when:

Any of the above 3 distinct sectors experiences an increase in value greater than 20,000 euros.
You are no longer the owner of the aforementioned assets (sale, transfer, etc… even if you made a loss).
In any of the 3 sectors, you did not previously have to declare that you had assets to the value of 50,000€, if you NOW (2018 YEAR) do have assets to the value of, or exceeding 50,000€.

For those who are fiscal resident, and need to submit a new Modelo 720, or your circumstances have changed from last year’s declaration, please remember that the period for presenting the Modelo 720, declaration of assets and rights located abroad (for the year 2017) is from 1 January to 31 March 2018.

🔶 If you require further legal advice on any legal or administrative matters please contact Pellicer&Heredia Lawyers & Tax Advisors who will be pleased to help you.

Get in touch with us today for more information:
Tel. +34 965 480 737 · Email: [email protected]
WEB: https://www.pellicerheredia.com/en/

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