Today, January 27, 2022, the Judgment has finally arrived by the Court of Justice of the European Union about the controversial Form 720 of declaration of assets abroad, in which the Court declares that Spain has failed to comply with the obligations incumbent on it under the principle of free movement of capital.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
Although the <\/span>text of the same does not question the existence of the aforementioned form<\/span><\/strong> to guarantee the effectiveness of fiscal controls and fight against fraud and tax evasion, it does <\/span>eliminate the most controversial aspects<\/span><\/strong> of it:<\/span><\/p>\n In short, this is a <\/span>severe correction<\/span><\/strong> by the Court to the current configuration of <\/span>Form 720<\/span><\/strong>. However, given the valuable source of information that it represents for the Administration and the fact that the Court has not questioned its existence, <\/span>it is highly likely that taxpayers will continue to be required to file such a return<\/span><\/strong>.<\/span><\/p>\n We are expectant of the adaptation and modifications that the Administration makes to this declaration.<\/span><\/p>\n<\/div>\n