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Form 720: Declaration of Assets and Rights Held Abroad

Do you need to submit Form 720?

  • We’re specialists in Form 720 submissions.
  • Our experts can help you avoid possible fines.
  • We take care of the whole process on your behalf.
  • We provide advice on the completion and submission of Form 720, a controversial Spanish tax form.
  • More than 1,000 successfully submitted declarations.

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atención modelo 720

Form 720

Form 720 is renowned for being one of the most controversial tax forms in Spain. The disproportionally high fines associated with it have been caused for major legal disputes.

If a Form 720 is submitted incorrectly or is not submitted at all, it may lead to heavy penalties.

  • Fines for not submitting Form 720: Starting at €10,000.

  • Fines for late submission of Form 720: Starting at €1,500.

  • Fines of 150% over personal income tax or corporation tax: The tax authorities may consider assets abroad to be unqualified capital gains and charge a higher fee, on top of a penalty.

You must submit Form 720 if:

  • You are an individual or a legal entity with a tax residence inside Spanish territory.
  • You hold assets abroad valued over €50.000.
  • Any previously declared assets have been economically modified.
  • Form 720 has needed to be submitted for every year since 2012.
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Modelo 720. Declaración de bienes, derechos y valores en el extranjero

What is Form 720?

Form 720 is the tax declaration form for assets and rights held abroad.
It was established in 2012 and has since become one of the most controversial tax declaration forms in Spain due to the huge fines associated with it.

Form 720 is to be submitted within the first quarter of every year.