You will have an obligation to complete this form if you are a tax resident of Spain and the accumulated value of any of the following assets that are located abroad exceed 50.000 euros.
Property Owned Abroad
If you have inherited, purchased or acquired a property via any other means with an acquisition value superior to 50.000 euros then you have an obligation to present the asset report. The date of acquisition for any property that has been inherited is the date the deceased passed away. If you declared any properties in your previous asset report and these have not increased in value of 20.000 euros, then you do not have an obligation to submit a new report.
Bank Accounts Abroad
If the accumulated value of your bank accounts outside of Spain exceeds 50.000 euros then you have an obligation to present the asset report. The determined value is the total accumulated balance of all accounts NOT just your share. This includes bank accounts that you have a status as titleholder, signatory, power of attorney, representative etc. If you have cancelled any bank accounts that were previously declared in your asset report then you have an obligation to present another asset report. If the accumulated value in balances at the 31.12 has increased by more than 20.000 euros you have an obligation to present a new asset report.
Investments, Bonds, Trusts, Shares ETC
Any investments, bonds, trusts, shares etc held outside of Spain that exceed an accumulated value of 50.000 euros must be declared in your asset report.
If you have sold any shares that were declared in your previous asset report then you have an obligation to present another asset report. If the accumulated values at the 31.12 have increased by more than 20.000 euros you have an obligation to present a new asset report.
Additional Information and Submission of 2016 Asset Reports
Please find below some very useful information prepared by Blevin Franks, January 2017. They do not prepare the reports but make a very big effort to ensure their clients are informed and they have asked us to share this information. Please contact our office at your earliest convenience to request the internal form that needs to be completed, keeping in mind that we would like to have all of the information by the end of February. I am also available for appointments should you need one.
Spanish Reporting Obligations v1.03
Information by E.B.F Consulting S.L. E.B.F Consulting has been providing tax and accounting services to expatriates in Europe since 1999. Office is based in Lanzarote, Spain. Visit www.ebfconsulting.com for more details. Copyright © E.B.F Consulting 2016 All Rights Reserved