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V1239-17 ·18 May 2017 ·consulta-vinculante Medium impact
FISCAL

Balance of a foreign prepaid card must be declared in Form 720

The DGT confirms that the balance of a prepaid card issued by a UK-based electronic money institution must be reported in Form 720 as a foreign bank account.

In 6 key points

How it affects those involved

Financial institutions must report the balance of foreign prepaid cards as a foreign bank account in Form 720.

Lifecycle

2017-05-18PublishedPublished 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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