The financial entities are obliged, from the 2016, to identify before the Tax Administration the fiscal residence of the persons who hold the ownership or control of financial accounts and to provide information to the Tax Administration regarding such accounts. non-residents (Royal Decree 1021 / 2015, of 13 of November).

This obligation brings cause the 'Multilateral Agreement on Automatic Exchange of Information of Financial Statements', signed in October 2014 in the city of Berlin, which has been transposed into domestic legislation by including additional twenty second provision of the law 58 / 2003, General Tax.

Who is obliged to provide these data?

Forced to make this statement are financial institutions in which the nonresidents They have opened their accounts.

When, how and where should you proceed to present this statement?

Because this obligation becomes effective dated 1 2016-January to the first provision of information will be held in the year 2017.

The Ministerial Order in which the model, which to date still is pending publication is approved, the manner, place and timing of its presentation will also be established.

For how who has to provide the information?

The data of the individuals and legal entities that own or control certain financial accounts, and that are residents in certain countries or territories that will be included annually in the aforementioned Ministerial order, must be communicated.

Notwithstanding this, this obligation will affect resident tax residents in: (nonresidents in the EU)

  • Another Member State European Union.
  • Other country or jurisdiction with which the Multilateral Agreement on Information Exchange has taken effect (Berlin, October 2014)
  • Any other country or jurisdiction with which Spain has concluded an agreement to provide this type of information.

What information must be provided?

  1. Name or company name, address, country or jurisdiction of residence and the NIF. Individuals also respect the place and date of birth.
  2. During the year 2017 must obtain the NIF of people
  3. The account number.
  4. The balance or value of the account at the end of the calendar year concerned. In case of cancellation of the account, cancel it be communicated.
  5. In the case of a custodial account:
  • Total gross amount of interest, dividends, and other income generated.
  • Total revenue from the sale or financial assets amortization.
  • In the case of a deposit account: the gross amount of interest paid or recorded in the account.
  • In another type of different account: the gross amount paid or recorded in the account.
  • NIF or not mandatory report date of birth in the case of pre-existing accounts if this data is not n in the records of the institution and not is obliged to collect it.
  • However, you must reasonably try to collect them no later than the end of the second calendar year following the year in which the pre-existing accounts have been identified.
  • In compliance with the United States, during the 2017 will be required to obtain the US NIF.
  • No communication would be required if the country NIF or jurisdiction of residence not issued.
  • It will not be mandatory to communicate the place of birth, unless certain requirements are met.

About the Author:

tax lawyer in Barcelona

Albert Pujol

DiG Lawyers