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V1434-17 6 June 2017 · SG de Tributos Criterion in force
IRPF · modelo 720

Voluntary regularization of unjustified capital gain possible via late self-declaration

The consultant asks about the consequences of filing Model 720 beyond the deadline without prior request. The DGT responds that unjustified capital gain can be regularised through a late self-declaration of personal income tax.

The question raised

Consequences of the untimely submission of Form 720 without a prior request from the Tax Administration.

The DGT's ruling

The voluntary regularization of unjustified capital gains is admissible if an untimely self-assessment of the Personal Income Tax (IRPF) corresponding to the oldest non-prescribed fiscal year is submitted. By doing so, the penalty under the first additional provision of Law 7/2012 is avoided, applying instead the late filing surcharge under Article 27 of the General Tax Law (LGT). There shall be no unjustified gain if it is proven that the assets were acquired with declared income or through an untimely supplementary self-assessment without a prior request from the Tax Administration.

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