EU/CJEU abolishes 'Modelo 720', one of the most controversial declarations in Spain. (Will Spain comply)

Who is obliged to file the modelo 720?

The modelo 720 must be filed by taxpayers living in Spain who have accounts in financial institutions located abroad, as well as for securities, insurance, and income deposited, managed, or obtained abroad, and for real estate located abroad and rights over the same.

The Minister of Finance and Public Function, María Jesús Montero, has announced that the elements subject to revision of the modelo 720 will be corrected "as quickly as possible". However, she stressed that taxpayers have until 31 March this year to file the modelo 720.

https://www.idealista.com/en/news/financial-advice-in-spain/2022/01/31/46979-europe-abolishes-the-model-720-one-of-the-most-controversial-declarations