Model 720 is one of the most controversial pieces of tax legislation enacted in recent years, and it has generated much discussion. The obligation to submit information regarding foreign assets, and the disproportionate sanctions imposed by Hacienda for any incorrect presentation or omission has generated much debate and many varying opinions.
Our tax advisors will take responsibility for everything needed to present model 720 in a timely and accurate manner, to avoid incurring any problems with this tax.
What do we do?
At Ilia Consultoria we are aware of your obligation to submit this declaration; we study your financial situation abroad and ensure your model 720 is completed accurately and on time. We also specialise in presenting resources to Hacienda on this issue, including advice on whether there are previous models outstanding.
Businesses and individuals must always bear in mind that not filing model 720 may result in major sanctions from Hacienda; ignorance is no excuse, and can end in unwanted financial penalties. We ensure this does not happen.
We conduct analysis of:
- Your accounts and deposits in banks outside of Spain
- The value of your shares and securities
- Your real estate located abroad
The service includes:
- Preliminary study of the client’s financial position
- Comparison with previous presentations
If you have questions about the Model 720 or you’re not sure what you need to present, please feel free to contact us. We will ensure you avoid any financial penalties.