We must pay special attention to the completion of Form 720, mainly for two reasons:
The investigations opened by the tax authorities have put the spotlight on 7,013 taxpayers who either have not filed their tax return, or did so in 2014, when they should have done so in 2013, or did so incompletely.
The hefty fines , which can exceed 5,000 euros for each piece of data or set of data omitted or inaccurate, with a minimum of 10,000 euros, are imposed. In addition, the assets and new zealand girls whatsapp number accounts will be considered as unjustified capital gains in the Personal Income Tax or as income not accounted for or declared in the Corporate Tax, which must be attributed to the oldest tax period among those not prescribed that can be regularised, with an additional penalty of 150% calculated on the resulting amount .
Steps to follow to fill out form 720 for assets abroad
Form 720 of the informative declaration on assets and rights located abroad must be submitted via the Internet , so a certificate, electronic ID or Cl@ve PIN of the declarant is required.
To file the declaration, it can be done directly by the holder of the declaration, or by a third party acting on his/her behalf, whether a social collaborator or an agent.
To submit Form 720 , you must access the Electronic Office and follow the route “Submit and consult declarations”, “Informative declarations”, “Form 720”, “Presentation of fiscal year 2014”.
The form 720 consists of two sections: one to fill in the declarant's data and another on assets or rights, in which the following must be declared:
Accounts in financial institutions located abroad.
Securities , rights, insurance and income deposited, managed or obtained abroad.
Real estate and rights to real estate located abroad.
Once the declarant's details and the goods and services that must be attested have been completed, the declaration must be validated .
And if the Tax Agency application does not indicate the existence of errors or warnings, we will have successfully completed the declaration, and can save it to later upload and review it, or send it using the "Sign and Send" option.
The result of a successful filing of an informative return for the 2014 financial year will be a response page with the text “Your filing has been completed successfully” . It will include an embedded PDF containing a first page with the filing information (registration entry number, Secure Verification Code, receipt number, day and time of filing and details of the filer) and, on subsequent pages, the complete copy of the return.
The informative declaration on assets and rights located abroad must be submitted between January 1 and March 31 , so we are now entering the final stretch for its submission.