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V2673-20 31 August 2020 · SG de Tributos Criterion in force
OTRO · declaración informativa

No mandatory to submit foreign assets declaration if balances below €50,000

The taxpayer asks whether opening a new deposit for €15,000 would require submitting the foreign assets declaration. The tax authority responds that no obligation exists if deposit and investment balances separately do not exceed €50,000.

The question raised

If I were to contract another deposit for €15,000, would I be obliged to submit the informative declaration on assets and rights held abroad?

The DGT's ruling

There is no obligation to report if the balances as of December 31 do not exceed €50,000 in the case of bank accounts (art. 42 bis.4.e RGAT) nor €50,000 in the case of securities, rights, insurance, or income (art. 42 ter.4.c RGAT). It is not necessary to aggregate the amounts from both concepts to determine whether the exemption limit is exceeded.

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