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V0809-22 13 April 2022 · SG de Tributos Criterion in force
OTRO · modelo 720

Duty to file Model 720 if foreign assets exceed 50,000 euros per category

The consultant asks about the obligation to submit the declaration of foreign assets and rights. The DGT clarifies that the obligation arises when the quantitative thresholds for each category of assets are exceeded.

The question raised

Obligation to file the Informative Declaration on assets and rights held abroad.

The DGT's ruling

The obligation to file Form 720 arises from the holding of foreign accounts and the ownership of securities or rights located outside of Spain. The 50,000 euro threshold for exemption applies independently to each category of assets and rights. If said threshold is exceeded in one category, all elements within that block must be reported, without the exemption of one affecting the other categories.

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