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V0703-25 ·15 April 2025 ·consulta-vinculante Low impact
Tax

Obligation to file Model 720 if foreign deposit balances exceed €50,000

The consultant asks whether they must submit the declaration on foreign assets due to multiple deposits on an Italian fintech platform. The DGT responds that the declaration is required if the total balance exceeds €50,000 and also if previously declared deposits are extinguished during the year.

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2025-04-15PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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