Skip to content
Back to index
V1506-22 23 June 2022 · SG de Tributos Criterion in force
OTRO · modelo 720

No obligation to declare accounts moved to Spanish branch after merger

A consultant asks whether accounts and deposits must be declared after the merger of their Spanish entity with a foreign parent, resulting in a Spanish branch. The DGT responds that accounts are no longer considered overseas once legal relationships are integrated into the new Spanish branch.

The question raised

Obligation to submit the informative declaration of assets and rights held abroad.

The DGT's ruling

Accounts and deposits that are integrated into a Spanish branch following a merger by absorption of a credit institution are not considered accounts held abroad. Therefore, they are not subject to the reporting obligation under Form 720. These balances must not be included when determining the 50,000 euro limit that triggers said obligation.

Free assessment and quote