After the

Court of Justice of the European Union (CJEU)

declared

illegal

at the end of January the sanctioning regime of the

model 720 of declarations of assets abroad

, the taxpayers who have been sanctioned in recent years have launched en masse to request that

they be reimbursed what was paid

in the last four years, the non-prescribed period.

According to different lawyers specializing in tax law from various law firms in Spain, there has been a

flood

, parallel to a

significant increase in the number of taxpayers who had not yet regularized

their assets and have taken advantage of this moment to do so.

According to the Treasury, the return of these undue sanctions will amount to a total of

230 million euros.

"There is a

significant increase in regularizations

, not as high as the one seen with the tax amnesty of 2012, but relevant.

Those who did not go to regularize

their assets abroad before the sentence

and have waited

, paradoxically could say that he

has won the game

, "says EL MUNDO

Carlos Ferrer

, financial tax partner of

Cuatrecasas

.

Most of those offshore assets that are now surfacing are located in

Panama

and

the United States

.

The same movement has been detected by

José Luis Hermida

, director of the Private Client and Family Office area of

​​KPMG Abogados

.

"Yes we are seeing it, the sentence has given an

opportunity to those who had paid sanctions

corresponding to model 720, because now they are considered contrary to law, they are able to recover them," he explains to this medium.

In any case, he acknowledges that in the last year and a half, the Treasury was not demanding with the full weight of the law the payment of these sanctions because there were indications that they could be declared illegal.

"There have been some cases but in general the Administration has been more cautious.

What is being claimed is what was paid three and four years ago

," he points out.

In addition to claims for sanctions, the expert has also perceived an increase in the declaration of assets.

"For those who had forgotten to declare something, we are seeing that

now they seek to comply as much as possible because there are no longer such abusive sanctions.

It makes sense, it is recommended that they catch up and if they can do it now, without sanctions, the better. ", he points out.

He agrees that

the United States

is one of the countries where assets are being declared.

While the lawyers advise their clients, the banks mobilize to try to do business.

From

Gómez-Acebo & Pombo

they confirm that they have contact with the main Spanish and international

private banks

since now

"there is interest in being able to capture accounts in Spain that were abroad",

although it is not yet possible to speak of an avalanche since there are not many clients that they are in that situation,

Javier Vinuesa

, a partner in the Tax area of ​​the office

, admits to this medium .

Few fines the last two years

"It must be taken into account that

as of the 2018 financial year

,

sanctions were hardly being imposed

in cases of regularizations because the legal regime for the declaration of assets abroad was already being highly questioned by the European Commission. On the other hand,

there are people who chose not to file the statement for fear of having to assume such a high sanction

. Now, the sanctions are much more manageable. This group is being encouraged to file the statement because now they see that it does not pose such a risk or economic impact important as before", points out

Pelayo Ballesteros

, a lawyer in the Fiscal Law area of ​​the

Mas y Calvet Law Firm.

This expert explains that

the cases that have already prescribed are much more complex.

"We have a specific case with a very high sanction. But it is from 2013 and it has already become firm. In this type of situation, other ways of claiming should be assessed, for example, related to the patrimonial responsibility of the legislator State," he says, in allusion to all those who paid the sanctions that are now considered contrary to law.

Experts predict an increase in litigation.

From the fiscal area of

​​CECA Magán Abogados

they warn that "

the courts are already applying the CJEU doctrine and are annulling sanctions".

The high court of the EU ruled on January 27, 2022 that both model 720 to declare assets abroad and its system of sanctions were contrary to law for imposing an

excessive burden on citizens.

They considered that the amounts of the sanctioning regime were excessive and violated the principle of freedom of movement of capital.

After his sentence, the Ministry of Finance adapted the model via amendments.

Eliminated fixed monetary fines

for not reporting on time or for doing so incompletely

, inaccurately or with false data;

it removed the precepts that qualified the value of assets not declared in due time as unjustified capital gains or as undeclared income attributable to the oldest tax period among those not prescribed;

eliminated the proportional pecuniary fine of 150% on the tax quota

derived from unjustified capital gains or undeclared income;

and stipulated that from now on breaches are subject to the general sanctioning regime.

Conforms to The Trust Project criteria

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