18 Feb I am a resident in Spain and pay my taxes here. Do I have to inform the authorities about my assets abroad?
According to the recently approved Law it is a very serious violation not to declare, not present in time and filing form with incomplete, inaccurate or false data information on goods and rights situated abroad.
So is noted by the tax administration with respect to all those citizens who as holders of securities, rights, insurance and income deposited, managed or obtained abroad, movable or immovable assets located abroad, do not comply with their obligation to declare in the tax form nr.720.
In addition, property or rights that are not declared could be regarded as not justified capital gains, and will be integrated into the General taxable Base of the oldest tax period among those not prescribed.