Modelo's Archives – SublimeSpain

If you already have an existing business in Spain, or you already live in Spain, you might be familiar with some the modelo’s. These are forms you have to fill in, and they are mandatory by the Spanish tax authorities. At SublimeSpain, we have professionals specialized in every one of the forms, including the more unique and complicated tax forms.

This article provides more information on the more common forms and information returns. It gives an idea of what you will be dealing with with the Agencia Tributaria. The information is incomplete. Contact us if you would like us to take care of your situation. We offer a variety of services.

Individual and Resident Category

Below you can find some information when you are a non-resident or resident in Spain.

Modelo 30

Form 030. Tax register of parties liable for tax Payments-Declaration of registration, change of address, and variation in personal data in the tax register. Form 030 is provided for parties to register as a fiscal resident with the Tax Office and liable for tax payment, private individuals, or communicate any changes in your data or to indicate an address for notifications if you wish to receive them on another than your fiscal address. Spanish citizens or non-residents can use form 30 to request a tax identification number (NIF).

Modelo 100

Form 100. Personal Income Tax. Annual tax return. The Tax Agency is responsible for issuing form 100 and resident of Spain needs to complete this form as income tax statement within their first year. Also, completing this form means you agree to the Spanish Revenue, and in compliance with HMRC, you are resident in Spain for Spanish tax.

Form 123 (Annual equivalent of M193)

Form 123. Withholdings and payments on account for Personal Income Tax, Corporate Tax, and Non-Resident Income Tax (permanent establishments). Residents of Spain must file form 123 to provide information on certain income from movable capital for tax purposes.

Modelo 145

Form 145 is required by Tax Agency form to record information on personal income tax through which taxpayers inform their payer—including their employer, about their tax and family status. It is also used to define the income tax withholding percentage applied to their wages.

Modelo 151

Form 151. Income Tax Return for individual National Tax Administration Agencies. This form enables online filing, or pre-filing of Income Tax for individuals under the special regime applicable to workers relocated to Spain.

Modelo 210

Form 210. Non-resident imputed income tax and rental tax. Non-residents in Spain are required to pay a percentage of their income and property owned by the state. The current rate for EU members for this tax is 19% and 24% for non-EU members.

Modelo 714

Form 714. Assets or Wealth Tax Declaration of Spain. It includes the necessary information related to the properties owned by the taxpayer and a Statement of Assets by anyone who owns properties that exceed a net value of €700,000. The first seven hundred thousand euros is a nil rate band, and the excess is taxed following a sliding scale. Nationally this scale is 0.2% – 2.5% of net assets.

Modelo 720

Form 720. Declaration of Assets and Rights Held Abroad. All citizens and non-residence of Spain are required to complete form 720 for assets owned in another country. The 720 form is essential, and the information provided is necessary for fraud detection purposes only. Also, it outlines, if any, and what assets are owned and could be subject to significant fines for failure to complete it.

Business Category

Below you can find some Modelo’s you might need when you are dealing with corporations.

Modelo 111

Form 111. Withholding tax (IRPF) due for the company’s employees and any invoices received withholding tax retained. It is a quarterly requirement to complete general invoices from economic activities incomes, notaries, capital gains from forestry development, and self-employed people (autónomos).

Modelo 115

Form 115. Withholdings and payment on account. Income or yields from the leasing or sub-letting of urban buildings. It is completed and submits quarterly by a self-employed person who rents a property with the withholding included in the invoice.

Modelo 165

Form 165. Informative return of individual certificates issued to partners or participants of newly or recently incorporated organizations. As developed in section 1 of article 69 of the Regulation on Personal Income Tax, it sets out how the new informative tax return must be presented.

Modelo 190

Form 190. Information Return. Withholdings and payment on account. Work income and income from economic activities, prizes, and certain capital gains and income allocations. It must be completed annually, including information about the workers and professionals with their names, surnames, ID, perceptions, and withholdings. It is an informative statement and summary form of withholdings for professionals and workers.

Modelo 200 / 202

Form 200. IS. Tax Return for Consolidated Groups. Corporation tax and non-resident income tax. Payment or refund documents. Businesses have to pay taxes simultaneously to (national treasury and regional treasury) and file self-assessment for corporation tax and non-resident income tax (permanent establishments and organizations under the income allocation system incorporated abroad with terms approved by these in the Spanish territory.

Modelo 232

Form 232. Informative return on related-party transactions and transactions and situations relating to countries or territories classified as tax havens. Obligation to expressly report transactions with related persons or entities and information on trades and conditions relating to countries or territories classified as tax havens.

Modelo 303

Form 303. VAT. Self-assessment. Complete filing of the self-assessment for value-added tax, which should be submitted quarterly if you develop any activity subject to VAT. It can be paid or deducted in certain situations.

Modelo 322

Form 322. VAT. Groups of organizations. Individual form. Monthly self-assessment. A complete filing of the monthly self-assessments for value-added tax corresponding to groups of organizations, a personal record.

Modelo 347

Form 347. Information Return. Annual information return on transactions with third parties. Formalities Information and Assistance. It is required to be completed annually with details on the statement of operations with third parties. Deals worth more than € 3005.06 with the reoccurring party will need to submit this form.

Modelo 349

Form 349. Information Return of intracommunity transactions. It is completed with a disclosure statement. Businesses are required to file the capitulatory return of intracommunity transactions during the corresponding period.

Form 353

Form 353. VAT. Group of entities. It is an aggregated and Monthly self-assessment form that is required to be completed by the parent company on Value Added Tax, through which the payment of the tax debt or refund or the request for compensation is made.

Modelo 368

Tax Form 368. Declaration-settlement of the special VAT regimes applicable to telecommunications, broadcast or television, and electronic services. It is completed quarterly and required for companies dedicated to sales of digital services or registered in a one-stop mini-shop for online sales to EU countries.

Modelo 390

Form 390. VAT. Annual summary tax return. It is required to summarize all transactions related to VAT collected, deducted, and paid by your business during the year. Spanish autónomos and small companies are mandatory to file as there is no payment involved.

Self-Employed Category

Below you can find some Modelo’s you might need when being self-employed.

Modelo 36/37

Forms 036 and 037. Tax register of business persons, professionals, and withholders – Tax register declaration of registration, modification, removal, and simplified tax register declaration. The individuals who should be included in the register for business people, experts, and withholders ought to submit declarations using 036 or 037. A record ought to likewise be offered for adjustments or expulsion from the register.

Modelo 130/131

Form 130. IRPF (Personal Income Tax). Companies and professionals are taxed under the direct evaluation system. Installments. It is mandatory to be filed by individuals who carry out economic activities including agricultural, livestock farming, forestry, and fishery under the direct evaluation system, standard or simplified modality in Personal Income Tax.

Modelo 303 (390)

Form 303. VAT. Self-assessment. It is required to be filed as a VAT return form by all self-employed people in Spain. Every quarter, form 303 is completed to declare their earnings and pay tax.

Real Estate Category

Below you can find some information when you are dealing with real estate in Spain.

Modelo 180

Form 180. Information Return. Withholdings and payment on account. Income from urban building leasing. Annual summary. To be completed yearly as an overview of Personal Income Tax, Corporate Income Tax, and Non-residents Income Tax for incomes acquired from leasing or subletting buildings.

Modelo 211

Form 211. IRNR. It is mandatory and completed for Non-residents’ income tax and withholding in property purchases from non-residents without permanent establishment.

Modelo 296

Form 296. Information Return. Withholdings and payment on account for non-resident income tax (without permanent establishment). The tax form 216 is completed annually by Non-Resident Income Tax (IRNR), which must be paid by companies or individuals who receive some income in Spain, but do not reside in the national territory.

Inheritance Category

Below you can find some information when you are dealing with inheritance in Spain.

Modelo 182

Form 182. Information Return. It contains information about donations and contributions received. Further, it is required to file the right to a deduction in income tax, corporation tax, or non-resident income tax.

Modelo 650

Form 650. Inheritance and Gift Tax. Self-assessment inheritance tax return. If you own assets in Spain, you should plan for your demise, requiring you to file form 650 within 30 and pay inheritance tax. Filing and pre-filing can be done online.

Get support with filling in your Modelo’s in Spain

If you would like us to help you fill in your Modelo’s in Spain, then contact us. We have a team of expert and local tax administration experts ready to assist you. We can take care of it for a fixed fee.

Disclaimer: Information on this page may be incomplete or outdated. Under no circumstances should the information listed be considered professional legal or financial advice. We highly recommend seeking guidance from a legal or financial expert if you lack extensive knowledge or experience dealing with any of the procedures outlined in these articles.

As a Spanish resident, you must use the Modelo 720 to report your overseas financial holdings when the total value of all the specified overseas assets in which you have ownership in, is more than the specified reporting threshold. The form provides three reporting categories including bank accounts, investments and immovable property.

The Modelo 720 is designed to help the tax authorities obtain information regarding the amount of specific type of assets held by Spanish residents outside Spain. Also, information on income, insurance, securities or rights obtained overseas is a substantial part of the declaration. The Modelo 720 is an important document in the Spanish tax system, let’s review its meaning, due date, rate and associated penalties.

Who should use the Modelo 720 form?

The obligation to file Form 720 and declare all financial entities located overseas lies on the owners, beneficiaries, representatives, whether individuals or companies with rights of disposal or full ownership. Spanish tax residents are legally mandated to fill out the 720 tax form, indicating to the relevant tax authorities of their fiscal activity in other nations.

According to the Spanish Tax Office, Modelo 720 applies to all Spanish residents and legal persons who, at any time in the year owned overseas assets worth €50,000 or more. You must report on Modelo 720 all specified foreign holdings, regardless of whether some or all of the foreign holdings was sold before the end of the year.

The €50,000 threshold is based on the cost amount of the asset. When it comes to foreign assets acquired as a gift or inheritance, the cost amount is considered as the fair market value at the time the assets were received.

The components to submit in the Modelo 720 also includes values such as:

Homes
Shares, stocks, and bonds
Trusts
Life or disability insurance policies
Cryptocurrencies
Pension funds

For individuals who have already filed Modelo 720 in the past, you will have to file it again in case the value of an existing asset grew by more than €20,000 or you traded in new assets.

Can I file Modelo 720 electronically?

Form 720 is submitted electronically at the Spanish Tax Agency, so you cannot file it in person. The taxpayer must have an identification with a digital signature (electronic ID or an electronic certificate. Submitting the Modelo 720 with professionals guarantees greater peace of mind.

In case the taxpayer does not have an electronic signature, the individual in charge of submission must be authorized to submit the declaration on behalf of third parties. Consequently, only a registered tax office collaborator or legal professional can submit the form on your behalf.

What is the due date for filing the Modelo 720 form?

The tax form needs to be submitted before 31st March of every year. You can file it after the submission period but you will have to pay a penalty.

Are there any penalties for not declaring foreign income?

There are considerable fines imposed for non-compliance with the Modelo 720, starting at €5,000 and can reach six-figure sums. Therefore, advisers and taxpayers must take great care in their Modelo 720 compliance, and when handling enquiries and disclosures.

Get advice for filling in your Modelo 720

The taxation of income and all gains from foreign interests can be complex. At SublimeSpain, we help our clients ensure compliance, especially concerning issues of residence and tax liability.

The importance of filing Modelo 720 for Spanish residents cannot be overstated. In this regard, maintaining proper records of all foreign holdings is critical to minimizing the time, hassle and potentially the cost of completing this form. Based on Spanish tax laws, errors or omissions, even if accidental, could lead to penalties. As a result, it’s essential that you complete the form correctly and subsequently file it on time.

As a Spanish taxpayer, you want to take advantage of existing treaties and tax laws to mitigate double taxation when dealing with foreign assets. We strongly recommend consulting a professional tax advisor, especially if you are not very familiar with the existing tax regime. We can help you, just fill in the contact form and we will contact you back right away. You can also take a look at our knowledge center to find more relevant information about Spain.

Disclaimer: Information on this page may be incomplete or outdated. Under no circumstances should the information listed be considered professional legal advice. We highly recommend seeking guidance from a legal expert if you lack extensive knowledge or experience dealing with any of the procedures outlined in these articles.

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