Finally the European Commission have annouced yesterday 6.6.2019 that they are referring Spain to the Court of Justice for the EU for imposing disproportionate sanctions on those taxpayers who fail to report their assets abroad.
Since 2012, taxpayers have had to report their assets outside of Spain including property, bank accounts and financial assets. Severe penalties have been imposed by the Tax Authorities on those taxpayers who have failed to report or presented late. More information on asset reporting can be found on our page
Recently, EBF Consulting won several cases in the Central Economic Administrative Courts, where the penalties were eliminated on clients who had reported late.
Please do not hesitate to contact us for more information.
|European Commission – Press release|
Taxation: Commission refers Spain to the Court for imposing disproportionate sanctions for failure to report assets held abroad.