Every resident (Spanish or not) must declare its foreign assests in Spain. An important fact, not to be forgotten.
What?
There are 3 categories within this declaration:
- Savings
- Real estate
- Participation in active companies
If, in any of these categories, you possess more than €50 000/pp, you have to declare this in Spain using Model 720.
If not declared, the fines can be up to €10 000/category.
Attention! This is only a 'duty of disclosure', you don't have to pay any taxes (yet).
More information? Contact Peter, of Oremfi Taxes by Aserpro, via peter@oremfi.com or +34 966 708 119.
You, as a foreign company, have a property in Spain?
From January 2016 you have to do a declaration of your rental income (gross - expenses made). Your accountant, in your homeland, will have to process this in your declaration.
Please don't forget to provide Oremfi with the needed information.
What do we need?
Gross rental income for 2015 + expenses made (related to the rental) eg. insurances, commissions, maintenance,...
From 2016 you, as foreign company, need a notarized fiscal representative. Don't forget to make an appointment to sign this document with the notary in Spain.
More information? Contact Tony Gillis, specialist in this field, via tony@oremfi.com or +34 634 108 603.
