Modelo 720 tax declaration
If you have assets overseas worth over the value of 50,000 euros (including property), it is necessary to declare them to the hacienda. You will not be taxed on your assets (unless you have very large amounts of wealth). The Hacienda simply want to know who owns what to prevent money laundering etc.
If you wish for LingoMar to present a Modelo 720 tax return on your behalf, simply provide us with the documents and information listed below. You can drop the document into our Jalón office.
We charge 50 euros + IVA to prepare and submit you modelo 720 to the Hacienda. We offer a 50% discount for the second person in the same household, charge at 25 euros + IVA. You will be billed by our tax specialists Joares Consultores Xaló
Documents needed to submit:
-Passport (photocopy or scan)
-Residency document (photocopy or scan)
Bank details from banks outside of Spain. This must be completed for all foreign accounts:
– Account number
-Amount in the account
-The name and address of the bank
-Address of property
-Value of property at time of purchase as written on the deeds
All documents will be considered highly confidencial.
*this article will be updated regularly as changes to the legislation occur and when new information comes to light. Be sure to check back to see new updates.