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V0751-25 28 April 2025 · SG de Tributos Criterion in force
IRPF · residencia fiscal

Tax obligation to file Model 720 depends on fiscal residency in Spain

A taxpayer returning from Brazil asks whether they must declare foreign accounts and assets. The tax authority responds that the obligation to submit Model 720 applies only to residents in Spanish territory.

The question raised

Question raised 1-. Must the informative declaration regarding assets and rights located abroad be submitted?

The DGT's ruling

To determine the obligation to report assets held abroad, it is essential to verify whether the taxpayer is a tax resident in Spain pursuant to Article 9 of the Personal Income Tax Law (LIRPF). If such status has not been acquired by December 31, the obligation to submit Form 720 does not exist. The regulations concerning the reporting of assets and rights located abroad use residency as the delimiting criterion.

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