Re: Re: VAT 10 % on new propertys?



I have just received a letter from my tax advisers on the new Spanish laws related to overseas investment and assets. Declarations of foreign bank accounts and securities, including life policies, foreign property assets and investment income. The inference is if a Spanish national has them they have been bought with black money. The penalties for none declaration are draconian. €10k first offence!

I’m assuming this is for fiscal residents, no?