Thu, February 13, 2020 – 7:00 PM – 9:00 PM  Centro de Formacion Sagardoy Abogados - Tutor, 24 Madrid

Join us for this VERY important informational session. Know your legal responsibilities!

Modelo 720 & FATCA: How it affects us. Future year’s returns. Modelo 720 & FATCA: How it affects us. Future year’s returns: Obligation to file the form. Current accounts abroad. Investments. Real Estate. Sanctions regime. We will comment on the frequent questions of each section and binding requests of the DGT published. The Foreign Account Tax Compliance Act (FATCA) how it will affect US and Spanish Citizens. Reporting obligations. Spanish Banks requirements.
The Foreign Account Tax Compliance Act (FATCA) is focused on strengthening information reporting and withholding compliance with respect to US persons who invest directly or indirectly through the ownership of foreign interests. To achieve its purposes, FATCA dictates non-US Financial Institutions to identify accounts falling under the FATCA scope and report certain details on these accounts to the US Authorities. FATCA imposes a 30% withholding tax if FFIs do not comply with FATCA’s requirement. The 30% withholding tax on certain US source income is imposed regardless of whether the FFI has US owners or clients. Therefore, Financial Institutions that do not have any US clients, still need to take actions for compliance with FATCA obligations.
Presenters: Luis de Alcaraz & Alejandra Pastor – Sagardoy Abogados, Madrid & Antonio Rodriguez – US Tax Consultants, Madrid