POST OUTDATED.

If you left your foreign pension undeclared during the past years now you have an opportunity to do it without paying extra charges before the fiscal amnesty concludes and you may encounter penalties.

According to the Spanish Government there are 1.8 million pensionists in Spain that receive their pensions from a foreign country and do not declare that income in Spain. In 2015 they intend to sort this situation and have exceptionally offered an amnesty for those who declare now these amounts.

There have a total of 27,696 foreign citizens investigated. These have received a letter from the Tax Office telling them that in the Tax Office´s records it appears that they receive pension from another country.

The fines in these cases would be an increase of 20% over the due tax amount plus 5% annual interests.

In cases where these fines have already been paid prior to the release of the amnesty the government will proceed to return the money after due application.

The law also states that in cases where the tax return was not submitted but the present inclusion of the foreign funds determine the obligation to declare, the issue will be settled with the submission of past years declarations.

If a declaration of other incomes was actually submitted, a complementary declaration needs to be done to include the foreign mention.

The amnesty consists in a exemption of interests or fines for declarations made out of date. The obligation to declare refers to the past 5 years as these are the ones non-prescribed.

In order to benefit from this amnesty the presentation of previous years must be done by the 30th of June,2015.

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