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V0370-20 18 February 2020 · SG de Tributos Criterion in force
OTRO · declaración informativa

No mandatory to file model 720 if total foreign assets below 50,000 €

The DGT confirms no obligation to submit the foreign assets declaration (model 720) when the value of shares exceeds 50,000 € during the year but is below that amount as of 31 December.

The question raised

Obligation to submit an informative declaration regarding assets and rights held abroad, Form 720?

The DGT's ruling

The obligation to report assets and rights held abroad is not enforceable when the combined value of securities, rights, insurance, or income does not exceed 50,000 euros. In this specific case, as the value of the shares as of December 31 is lower than said amount, the submission of the informative declaration is not required.

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