Changes to the Tax Declaration of Foreign Assets
- by Ibiza-Legal
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With Law 5/2022, which was published in the Official Gazette (“BOIB”) on 10 March, 2022, the legislature has adapted the controversial tax form 720 to European law.
About 10 years ago, the form (“modelo”) 720 was introduced in Spain with the aim of forcing Spanish tax residents to disclose assets located abroad.