General Guidelines Of The Spanish Tax And Customs Control Plan For 2017

On January 27, 2017, the general guidelines of the 2017 Tax and Customs Control Plan have been published in the Official Bulletin of the State by the Directorate General of Spanish Tax Administration.

Amongst the main action lines of the Plan, the intensification of the investigation of an individual's wealth stands out in particular. The State Tax Agency will contrast the information derived from the Net Wealth Tax returns, Form 720 "Information return on assets and rights held abroad" and Form 750 "Special tax return" (used to regularize undeclared assets during the 2012 tax amnesty process). These will also be compared with the data obtained through the existing international automatic exchange of information mechanisms (FATCA (Foreign Account Tax Compliance Act), CRS (Common Reporting Standard), etc.).