Fancy a move to Spain?

[BlasterBates]

Expats in Spain face new tax reporting requirements

This looks to me more like a general clampdown, i.e. just tightening the thumb screws to make sure that you´re declaring your interest, dividends and rent. Of course it´s possible that they may introduce some sort of wealth tax but unless there is a further immediate crisis, i.e. bank bail out, it´s unlikely to be "Cyprus style". Spain has already bailed it´s banks out, it´s unlikely that they´ll be bailed out again in the immediate future.

If I was in Spain I wouldn´t be unduly worried, sure there will be extra tax to pay as there will be everywhere, including the UK after Labour "probably" will be elected. Switzerland hiked it´s taxes up this year as well, and there is a requirement there as well to declare all your worldwide assets, and then they use that to investigate you/check up on you.

The UK´s Conservative/Lib government´s new tax laws have been eye wateringly painful if you hold stocks.

[jamesbrown]

Many countries have started doing this (e.g. the FBAR in the US).

[AtW]

A criminal offence in spain maybe. But when they start investigations couldn't you just skidaddle back to the UK?

You'd be extradited back to Spain without any serious problems.

Then the Spanish Inquisition will own you.

[KentPhilip]

Read the article - that would be criminal offence.

A criminal offence in spain maybe. But when they start investigations couldn't you just skidaddle back to the UK?
(I guess the answer is that the nice Mr Cameron would extradite you back there for your trial)

[stek]

I'd go just in case there are any child sex abuse charges against me I don't know about and never did....

[AtW]

Why not just not declare the UK assets, or declare them at levels much lower than they are. Would they find out you were lying?

Read the article - that would be criminal offence.

[KentPhilip]

Why would they want this information if they weren't planning on fleecing you somewhere down the line?

Indeed.

Why not just not declare the UK assets, or declare them at levels much lower than they are. Would they find out you were lying?

[AtW]

Why would they want this information if they weren't planning on fleecing you somewhere down the line?

Fleecing should not be taxing

[wurzel]

This should put you off.

I was talking to a bloke the other day & he was saying there is a lot of anxiety of a Cyprus style raid amongst the expat community. Told me he'd given up his residency & was going to spend 6 months of the year in the UK to avoid making these declarations.

Why would they want this information if they weren't planning on fleecing you somewhere down the line?