Fiscal Information 2023

In this post, some questions about investments abroad are detailed.
Form 100 – Personal Income Tax Return (Renta).
In accordance with the provisions of article 2 of Law 35/2006, (IRPF), individuals resident in Spanish tax residents in Spanish territory are obliged to pay tax in the country on their worldwide country on their worldwide income. Consequently, interest earned abroad by a tax resident individual abroad by an individual resident for tax purposes in Spain are subject to taxation in that jurisdiction and are taxed in that jurisdiction, and are therefore subject to inclusion in the Renta, where applicable.
Form 720 – Declaration of assets and rights located abroad
Pursuant to Spanish tax regulations, the following are obliged to file this form to file this form, among other obligated parties, all individuals who are tax residents in Spain who:
o Are holders of or authorised to hold accounts abroad whose combined balance exceeds 50,000 euros;
o Are holders of securities, rights, insurances and temporary or life annuities deposited, managed or life annuities deposited, managed or obtained abroad, for an aggregate amount exceeding 50,000 euros;

Form 714 – Wealth Tax Return

In accordance with the applicable regulations, the following are obliged to file this form, whether due to a personal obligation or a real obligation to contribute, if their tax liability, as determined in accordance with the applicable tax liability determined in accordance with the rules governing the tax, and after applying the deductions and once the appropriate deductions or allowances have been applied:
o Is generally payable when the taxable base is more than 700,000 euros, or when, or, in the absence of this circumstance, the value of their assets or rights, determined in accordance with the rules governing the tax, is greater than 2,000,000 euros.

Thank you  for reading this post, if you think we have been able to help you or if you still have any questions, you can always contact me via WhattsApp (+49 1520 8381499) or e-mail (erica@taxandlawspain.com).