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Spanish Asset Declaration Law

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Link: http://www.thisismoney.co.uk/money/mortgageshome/article-2317127/Expats-head-home-Spain-forced-declare-overseas-assets.html

This getting rather serious...

The Spanish government requires that any resident with an overseas asset worth more than €50,000 and who lives in Spain at least six months (183 days) of the year is affected – and must declare what they own abroad.

Failure to declare or any errors in any of the 720 online forms will result in a penalty of €10,000 or more.

Why do they need ASSET information? They even want bank account numbers. If I lived there I'd be getting worried around about now. It looks like they've realised there is a whole bunch of people they haven't scalped yet - ex-pats. Plus, how are you not going to make a error when filling in 720 forms?

Edited by Nationalist

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Link: http://www.thisismoney.co.uk/money/mortgageshome/article-2317127/Expats-head-home-Spain-forced-declare-overseas-assets.html

This getting rather serious...

Why do they need ASSET information? They even want bank account numbers. If I lived there I'd be getting worried around about now. It looks like they've released there is a whole bunch of people they haven't scalped yet - ex-pats. Plus, how are you not going to make a error when filling in 720 forms?

There is only one reason for this, seizure of assets, expats will be hit hard, really hard, outsiders will always take the blame, I'd get out PDQ if I were over there. Its going to get nasty everywhere, I think its better to be in the country your from when the killing and dying start.

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There is only one reason for this, seizure of assets, expats will be hit hard, really hard, outsiders will always take the blame, I'd get out PDQ if I were over there. Its going to get nasty everywhere, I think its better to be in the country your from when the killing and dying start.

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Why do they need ASSET information? They even want bank account numbers. If I lived there I'd be getting worried around about now. It looks like they've realised there is a whole bunch of people they haven't scalped yet - ex-pats. Plus, how are you not going to make a error when filling in 720 forms?

ooo dear they must be contemplating the potential to do a Cyprus

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ooo dear they must be contemplating the potential to do a Cyprus

I wonder how they can do a Cyprus on a FOREIGN bank account?

It may be preparatory to a worldwide wealth tax, where they just take the numbers you supply and say you owe us 1% - every year!

The correct "Mediterranean" response to this kind of law is to ignore it; fill in no forms; declare nothing, and wait until the tax collectors are physically in your house taking the TV before making any kind of response. The response then being inter-generational vendetta!

Of course the Spanish may have figured out that Brits are good little tax drones. They fill in forms on request; send them a bill they send you a cheque.

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I wonder how they can do a Cyprus on a FOREIGN bank account?

Sort of by the back door......fine TAX them...

The Spanish Government considers you a resident if you spend at least 183 days there in a year.

Those who fail to declare and are subsequently found to have assets worth more than €50,000 could be hit with a minimum penalty of €10,000, a fine of 150 per cent of the tax owed and 4 per cent annual interest - as well as having to repay the tax owed.

Edited by GinAndPlatonic

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The Spanish Government considers you a resident if you spend at least 183 days there in a year.

Relative once told me that back in the day, which I got the impression was late 70s-mid-80s, the authorities in Spain kept tabs on some of the known wealthy people who had homes and lived in Spain. Think it must have been a time when they were hungry for revenue. Relative told me they actually monitored with 'eyes-on' these individuals' homes, and at least once put a tax-demand on a British famous person, saying he'd been in Spain over the permitted time.

Would be easier to do today with computer records, at least on the aircraft entry/departure side anyway.

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Link: http://www.thisismoney.co.uk/money/mortgageshome/article-2317127/Expats-head-home-Spain-forced-declare-overseas-assets.html

This getting rather serious...

Why do they need ASSET information? They even want bank account numbers. If I lived there I'd be getting worried around about now. It looks like they've realised there is a whole bunch of people they haven't scalped yet - ex-pats. Plus, how are you not going to make a error when filling in 720 forms?

hmmm maybe because they have a wealth/asset tax?

As any non banana republicesque country would have

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hmmm maybe because they have a wealth/asset tax?

As any non banana republicesque country would have

...are the secrets safe with the swiss? ;)

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There is only one reason for this, seizure of assets, expats will be hit hard, really hard, outsiders will always take the blame, I'd get out PDQ if I were over there. Its going to get nasty everywhere, I think its better to be in the country your from when the killing and dying start.

Having considered moving abroad, we decided, a couple of years ago, to remain UK resident and just take long holidays abroad. It's easier to argue your case in your native tongue and, of course, you know the rules.

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.......cumulative liquidity tax next........those who STR 'd hoping to get back into the market after it has crashed at the expense of other people's misery will become primary targets.... even if they have numerous saving vehicles ...

......those in debt will be protected because they are worth more votes, and they will incur a cost if turfed ....... a liquidity tax on financially mobile people won't mean them being thrown onto the streets ...they will just carry on renting .....without plan B in the backpocket

Cyprus MkII

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Having considered moving abroad, we decided, a couple of years ago, to remain UK resident and just take long holidays abroad. It's easier to argue your case in your native tongue and, of course, you know the rules.

+1

I think the Spanish know that they have a load of Brits living there owning property that they cannot sell but who have income from outside of Spain - i.e. UK pensions.

On top of that you have all the holiday home types.

Collectively that must be quite a lot of Brits - a few million I would guess.

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.......private pension schemes will also be nationalised in the national ponzi scheme ...to be some other governments problem further down the road ..but it capitalizes the governments now ......

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...are the secrets safe with the swiss? ;)

ironically we have a wealth tax here in Switzerland, just as we have a turnover tax to deal with starbucking, if states are corrupt enough not to have sensible taxes then rather than blaming over there perhaps its time to blame the the banana republic you live in

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.......cumulative liquidity tax next........those who STR 'd hoping to get back into the market after it has crashed at the expense of other people's misery will become primary targets.... even if they have numerous saving vehicles ...

......those in debt will be protected because they are worth more votes, and they will incur a cost if turfed ....... a liquidity tax on financially mobile people won't mean them being thrown onto the streets ...they will just carry on renting .....without plan B in the backpocket

Cyprus MkII

Bruno? Is that you?

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Seems like only yesterday that the globalists were carefully explaining how the nation state was an outmoded dinosaur that would be driven to extinction by fleet footed capitalists who at the first hint of an asset grab would vanish like ghosts with their wealth intact.

What they overlooked was the fact that the nation states have all the guns- and the ability to create the laws that will make using those guns entirely legal if required.

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the particularly sad part about this is its reactionary politics, any sensible reasoning would have introduced this in about 1980, thank fck people are so retarded that it only gets introduced as a reactionary measure rather than a fundamental tax issue in which case it would have been introduced 30 years ago

...so all honest and open now, glad to hear it.....nowhere to run nowhere to hide.....less is more. ;)

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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