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V0858-15 18 March 2015 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ISD · donación

Foreign money donation taxed under donor's habitual residence region's rules

The DGT confirms that donations of money from a U.S. account to a Spanish account are subject to the rules of the donor's habitual residence region and that no Model 720 filing is required for such transactions.

The question raised

Possibility of bank transfer. Obligation to report through Form 720.

The DGT's ruling

In donations of assets and rights, the tax yield is understood to be generated in the Autonomous Community of the donee's habitual residence. The regulations of the Community where the donee has remained for the greatest number of days in the five years prior to the accrual shall apply. Regarding Form 720, there is no obligation to submit the informative declaration if the concept does not fall within the assets or rights referred to in the General Tax Law.

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