Modelo 100 – Income Tax Return

For twenty-five years, we at Global Accounting have been assisting Swedes with their tax returns in Spain and Sweden. As a resident of Spain, you must declare all your worldwide income for the 2025 tax year. The Spanish tax return is submitted during the period of May–June 2026.

To assist you with the declaration, we need information about pensions, stock dividends, securities transactions, interest income, salary income, board fees, and any other income. We also need to know which bank account you want any refunded tax, paid in Sweden, to be deposited into, as well as from which bank account in Spain the Spanish tax should be deducted.

It’s important to remember that you no longer receive income statements from Sweden; instead, you must now locate these income statements yourself and forward them to us. You can find income statements on the payers’ websites.

Certain expenses can be deducted from income. These deductions primarily concern costs for dependent children, dependent retired parents, family member disability, mortgage interest and payments under certain conditions, and paid rent also under certain conditions.

Spouses are free to decide whether they want to be taxed separately or jointly.

If you have a tax liability, either 100% of the remaining tax must be paid by June 30, or 60% by June 30 and the remaining 40% by November 5. You may decide which of these two payment options you wish to choose.

For those who have received Swedish income, regardless of whether you have SINK or ordinary income tax (IL), we assist with the application for a refund of double-paid tax.

For those filing as a resident in Spain, a digital certificate is required. Please contact us and we will order it for you.

If you require assistance with your Swedish tax return, we are happy to be of service with that as well. If you would like help from us at Global Accounting, you can contact us or book a meeting. Preferably by April 10 at the latest to guarantee that it is completed on time.

Form 714

It is time to declare your wealth, both inside and outside of Spain, as of December 31, 2025. The wealth tax return must be filed between May and June 2026 using Form 714.

Wealth tax has been abolished from the 2022 tax year for assets up to 3,000,000 euros, but the declaration must still be made with a 100% tax deduction for wealth up to 3,000,000 euros.
For wealth from 3,000,000 euros and upwards, tax must be paid, according to a new decision on December 27, 2022. This applies to both residents and non-residents.

The declaration is made individually, which means that spouses are taxed separately and taxed on their own part. It’s important to note that if you have assets of 700,000 euros or more, you should contact us to analyze your situation (the threshold amount may vary between different autonomous communities).

You are welcome to contact us now so that we can prepare the wealth tax return in good time.

Modelo 718

Do you have assets of 3,000,000 euros or more? Then you may need to file Modelo 718. Modelo 718 is a wealth tax return filed during July 2026.

The declaration is made individually, which means that spouses are taxed separately and taxed for their own part. It is important to note the value of the property; if the value is 2,000,000 euros or more, you should contact us to analyze your situation (the threshold may vary between different autonomous communities).

You are welcome to send all documentation to us via email or visit our office so we can prepare the wealth tax return in good time.

Form 720

It is time to submit Form 720, which is an information return regarding assets you hold outside of Spain that exceed 50,000 euros. The information pertains to the status as of December 31, 2025, and must be presented to the Spanish Tax Agency by March 31, 2026. Foreign assets are divided into three categories: liquid assets (bank funds), securities, and real estate owned as of December 31, 2025. If any of these three groups individually exceed 50,000 euros, there is an obligation to declare the asset.

For example, if you have 20,000 euros in cash at SEB and stocks in Sweden worth 35,000 euros, you don’t need to present this form. However, the form should be presented if you have, for example, 30,000 euros in cash at SEB and 30,000 euros in cash at Swedbank. The value to be reported in the form is the market value of the assets.

If you have previously submitted form 720 to the Spanish Tax Agency, you only need to declare again if the total value of your assets in any of the three groups has increased by at least 20,000 euros. If you have disposed of any asset, you should also provide this information through form 720, even if you have done so before.

Form 720 has led to major discussions due to its overwhelming and disproportionate sanctions for failure to submit and late presentation of the form. The European Commission has, because of this, sued Spain in the EU Court of Justice as they consider the sanctions to be discriminatory and disproportionate. Until the matter is resolved, form 720 remains in effect.

We at Global Accounting can compile and present the information form to the Spanish Tax Agency on your behalf. For us to do this, we need to have all documentation regarding your assets by March 15th at the latest.

You are welcome to contact us via email, telephone, or by visiting our office in central Marbella.

+34 952 82 82 52

[email protected]