Modelo 720 Under Attack from EU Justice
 

https://elpais.com/economia/2022-01-...ributaria.html

Insisting that the fines and penalties associated with non or incorrect completion of Modelo 720 are excessive the European Justice has declared they are contrary to the laws associated with the free movement of capital.

Re: Modelo 720 Under Attack from EU Justice
 

The 720 is not a new topic on this forum.

Perhaps this tread would have been better tagged onto one of the numerous threads previously posted on the topic of the 720.

Re: Modelo 720 Under Attack from EU Justice
 

No, because this is not about the need to complete the form, how to deal with it etc but about EU Justice regarding it so it is totally different.

Rosemary

Re: Modelo 720 Under Attack from EU Justice
 

Update on Modelo 720 - British Expats

Topic was already being covered in this thread

Re: Modelo 720 Under Attack from EU Justice
 

That is a very old closed thread.

Rosemary

Re: Modelo 720 Under Attack from EU Justice
 

From what I have read despite the ruling the Spanish government still plan to continue with the 720, all be it, in line with the EU ruling.
However, they will not be allowed to continue with the huge unfair fines.
So from my perspective I will have to still pay an accountant a few hundred euros each year to submit the 720 and waste my time cross checking all the information in the document.
In conclusion the whole 720 thing was conceived as a tax raising measure on foreigners moving to Spain and as the Spanish government don't want to now lose face they are going to continue with the 720 a pointless bureaucratic exercise.

Didn't anyone get the impression that I am pissed off with this whole 720 thing?

It is symptomatic of the bureaucracy you find in Spain and the mindset that is holding this country back from becoming a modern industrialised economy.

And just don't get me started on the taxation changes they are planning for the self-employed.

:banghead:

Re: Modelo 720 Under Attack from EU Justice
 

I spoke to my accountant (who's also very well connected politically) about this and he's of the opinion it was designed principally to catch Spanish tax dodgers, foreigners living here just got caught in the crossfire. I totally agree with you about Spanish bureaucracy though.

Re: Modelo 720 Under Attack from EU Justice
 

I totally agree with Steve - it was NOT designed to catch foreigners but the Spaniards who laundered Pts to Euros and then invested abroad with untaxed black income.

And as the law is for all yes expats etc get caught up in it as well.

Re: Modelo 720 Under Attack from EU Justice
 

Apparently the Tax Agency say only 60,000 submit this return? Wonder if that is Malaga Province!

230 million in fines to be returned.

Re: Modelo 720 Under Attack from EU Justice
 

Really? Giving back money like this would be quite strange in any country.