Spain Tax Basics #4: Modelo 720. Declaration of Overseas Assets. скачать в хорошем качестве

Spain Tax Basics #4: Modelo 720. Declaration of Overseas Assets.

You’re halfway through a second espresso in Spain… and someone whispers: “Modelo 720.” This video breaks down what that actually means — without panic, without legal fog. ✅ What you’ll learn: • Who’s in scope (Spanish tax residents vs non-residents) • The 3 “boxes” Spain cares about (accounts, financial assets, foreign real estate) • The biggest tripwires expats miss (threshold logic, joint ownership, closures, missing details) • What changed after the EU court drama (why the headlines got calmer, but the obligation didn’t vanish) • Crypto enters the chat: Modelo 721 and when it can apply to coins held on foreign platforms This is NOT a “pay tax now” form — it’s an information return. But forgetting it can still turn into letters, stress, and penalties you didn’t budget for. ⚠️ Disclaimer: This video is educational, not legal/tax advice. Rules can change and your facts matter (residency, asset type, custody, ownership structure). If you’re unsure, talk to a qualified advisor. If you want more Spain expat + digital nomad tax content (autónomo, cross-border income, VAT, crypto, “don’t do this” red flags) — subscribe. 00:00 — Intro: what Modelo 720 is and why it exists 00:25 — Key question #1: are you a Spanish tax resident? 00:47 — Residency criteria: 183 days, family ties, center of vital interests 00:55 — Key question #2: what do you own abroad on December 31 01:02 — The three “boxes” and the €50,000 threshold (per box, not overall) 01:39 — Threshold logic: evaluate per box, not per individual asset 01:54 — Box 1 (bank/deposit accounts): what to report (bank, country, account no., year-end & Q4 average balances) 02:03 — Box 2 (financial assets/rights, policies/annuities): what to report 02:18 — Box 3 (foreign real estate/rights): what to report 02:27 — Joint ownership & closures/disposals: still reportable events 02:36 — Repeat filings: when you must refile (value more than €20k, ownership changes, closures) 03:06 — Deadlines: snapshot at Dec 31; file by ~March 31 of the following year 03:15 — Filing online via Agencia Tributaria (digital certificate / Cl@ve / representative) 03:23 — Deadline discipline: don’t wait for the last week of March 03:30 — Penalties: what they were (draconian) vs. post-2022 EU Court ruling 03:50 — Current regime: standard late-filing surcharges, fixed info-return penalties, normal 4-year statute 04:11 — Bottom line: the nightmare is gone; the obligation remains 04:29 — New form: Modelo 721 for crypto at foreign custodians (from 2023 data) 04:49 — Parallels with 720: disclosure, not tax; aggregate threshold; ongoing “material change” logic 05:02 — Custody vs. self-custody: who falls in scope 05:20 — 721 filing window: aligned with 720 spring season; subsequent-year triggers 05:22 — Who must file: sample life cases (ISA abroad, Swiss joint accts, PT property, exchange-held crypto, etc.) 06:27 — Summary logic: “boxes → thresholds → details” — a mechanical process 06:35 — Documentation superpowers: which statements/reports/policies/deeds to keep (banks, brokers, insurance, property, crypto) 07:16 — Common mistake #1: treating the €50k threshold per asset instead of per box 07:27 — Common mistake #2: ignoring closures within the year 07:39 — Common mistake #3: forgetting policies/annuities belong in the financial assets box 07:48 — Common mistake #4: mixing residency years and the Dec 31 “as-of” date 07:56 — Common mistake #5: hunting statements in late March 08:01 — Today’s sanctions: voluntary late filing → surcharges; ignoring notices → fixed penalties 08:37 — Penalty ranges now: hundreds to low tens of thousands (vs. past shock sums) 08:50 — Practical bonus: prepping 720/721 makes the annual IRPF return easier (interest, dividends, rents) 09:39 — If you missed last year: fix forward—gather docs, file current, voluntarily cure the miss 10:04 — Key clarification: 720 is informational; income tax applies under normal rules (with treaty credits) 10:26 — Treaty credits: foreign withholding can offset Spanish tax (up to the Spanish amount) 10:44 — File hygiene: folder structure and one-page checklist 11:02 — Five pre-filing checks (residency, which boxes cross €50k, material changes, foreign-custody crypto, plan to file by Mar 31) 11:26 — Wrap-up: respect the cadence—“boxes, thresholds, details, deadline”—and sleep without brown-envelope drama #SpainTaxes #ExpatLife #Modelo720