Spain: Treasury Tightens the Screws - After Tax Amnesty, Reporting of Overseas Assets
As you all know, the filing period for the tax amnesty ended on the 30th of November. As a complementary measure to this, the Government, in its enthusiasm to prevent and fight against fraud, approved the Law 7/2012, of 29th of October (developed in the Royal Decree 1558/2012, of 15th of November), whereby a new tax requirement was formally established: the requirement for information about overseas assets. The law is extremely tough, both as regards the amount of information to be
filed as to its penalty system.
In the below article we will discuss “the day after” of the tax amnesty, as well as the new tax requirements facing us in relation to the prevention and fight against fraud.