The tax team of Tomarial has advised the magazine 3 Economy in an extensive news item on the informative declaration of assets and rights located abroad (Model 720) that concludes on March 31st. Our experts Miguel Angel Molina, partner of the tax area and Teresa Girón, associate director, have been interviewed by this economic publication, warning of the severe sanctioning regime that is established if the Model 720 is not presented.
“Model 720 is an informative statement on assets and rights located abroad. You have to take into account the context in which it is approved to assess its purposes ”, assured Miguel Ángel Molina. In addition to this, they have clarified doubts related to, for example, who has to present the declaration, its content and how many times it is necessary to present this model over the years.
They have not left behind one of the most obvious questions that arises in this context: What about investments in cryptocurrencies? Do they have to be declared? In this link you can read the complete news and resolve all doubts.