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The Spanish Tax Authorities and the Information Exchange Agreements

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26 Apr 2019

Further to massive information exchanged by Governments due to CRS (Common Reporting Standards), the Spanish tax authorities have started the 2018 Personal Income Tax campaign with warnings about foreign accounts held as to their knowledge, aimed to voluntary disclosure and correct declaration.

For those who have not declared themselves as resident in Spain but their banks abroad have considered that they are due to the residence Due Diligence they have carried out in application of CRS, the Spanish tax authorities will start a tax audit as announced in the 2019 tax inspection plan.

The Spanish tax authorities will also warn taxpayers who have rented their properties through platforms like AirBnB or similar, due to the information exchanged as mandatory for those platforms.

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