FAQs
(Updated to April 2024)
Exemption criteria for accounting
If they are holders of accounts in financial entities abroad (article 42 bis of the General Regulation approved by RD 1065/2007, dated 27 July) and those accounts are registered individually in said accounting documentation and identified with their number, financial institution and branch office in which they are open and country or territory in which they are located, there does not exist an obligation to declare said accounts.
If they are holders of values, rights, insurances and incomes deposited, managed, or obtained abroad (article 42 ter of the General Regulation approved by RD 1065/2007, dated 27 July) for which there exists an obligation to declare, the fact that they are registered in the individual's accounting does not exempt the taxpayer from the obligation to declare them, since said accounting not been included in the regulation; therefore the taxpayer must fulfil his or her obligation to provide information on these values, rights, insurances and incomes.
If they are holders of properties and rights on properties located abroad (article 54 bis of the General Regulation approved by RD 1065/2007, dated 27 July) which are identified individually and sufficiently, there is no obligation to declare said property.
Regulations: The regulation of these exceptions on presenting informative returns with regard to each of these obligations is found:
-
in letter c of section 4 of article 42 bis of the General Regulation approved by RD 1065/2007, dated 27 July, for accounts in financial organisations located abroad;
-
in letter c of section 6 of article 54 bis of the General Regulation approved by RD 1065/2007, dated 27 July, for properties and rights on properties located abroad.
No.
Regulations: The regulation of these exceptions on presenting informative returns with regard to each of these obligations is found:
-
letter b of section 4 of article 42 bis of the General Regulation approved by RD 1065/2007, dated 27 July, for accounts in financial entities located abroad;
-
letter c of section 4 of article 42 ter of the General Regulation approved by RD 1065/2007, dated 27 July, for values, rights, insurances, and incomes deposited, managed, or obtained abroad.
-
letter b of section 6 of article 54 bis of the General Regulation approved by RD 1065/2007, dated 27 July, for properties and rights on properties located abroad.
The criteria for understanding that assets and rights located abroad are correctly recorded in the accounting are those established in articles 42 bis.4, 42 ter.4 and 54 bis.5 of the General Regulation approved by RD 1065/2007, of July 27.
In any case the entry into accounts should be understood broadly; it is valid to register said goods and rights in the accessory accounting documents as long as they are congruent with the annual accounts and give consistency to them. In all cases relating to the same, any information on the existence of the asset or right abroad must be able to be extracted adequately and unambiguously.
They will only be exempted if they carry out their accounts voluntarily pursuant to the accounting regulations.
Yes, Community members are obliged to inform about the goods and rights not recorded in the Community in the same way that would happen for any type of resident company or organisation obliged to inform which did not have its goods and rights in its accounting.