The DGT is positioned on voluntary self-assessment untimely adjustment model 720

Persons or entities that are obliged to submit the disclosure statement, model 720, briefing rights abroad , both for bank accounts located abroad, such as securities or insurance or real estate outside and rights of assets abroad, have always made within the legal period stipulated .

So far, with the additional provision of Law 58/2003 which regulates the 720 model, predicted a 150% penalty for filing after the deadline of this model , considering the goods reported a capital gain is not justified to integrate the tax declaration period oldest not prescribed.

8th additional provision:

• Tax offenses are not presented on time and present incomplete, inaccurate or false statements information referred this additional provision.
• Also constitute breach of these tax filing by means other than electronic, computer and telematic in cases where there is an obligation to do so by such means.

However, last June, the Directorate General of Tributos (DGT) of Spain gave response to a binding consultation(V1434-17) on the implications of a voluntary self-assessment untimely adjustment model 720.

In this case, the DGT was determined that the extent voluntarily , the person or entity extemporàniament rectify the situation , will not sanction from 150%.

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