The team formed by Álvaro Villar and Elisa Negro, has obtained the annulment of a tax penalty amounting to 290,000 euros as a result of the failure to file the information return on assets and rights located abroad (form 720). The Minister of Finance, accepting the arguments put forward by Martínez-Echevarría, declared the sanction imposed null and void, as she considered the penalty system for non-compliance with this obligation in force until 11 March 2022 to be contrary to the free movement of capital recognised by the EU's founding treaties.
In this way, the Spanish Administration complies with the mandate received from the Court of Justice of the European Union in its ruling of 27 January 2022 in case C-788/2019 to expel said sanctioning precepts from our legal system, the Supreme Court having subsequently declared that the effect of said ruling with respect to the sanctions imposed under the protection of the pre-existing legal framework must be their radical nullity without the possibility of their preservation, a criterion that the Administration has now incorporated by adopting the present ruling in favour of the taxpayer.
Thanks to the intervention of the Firm, the client has been able to recover the amount of the penalty, as well as a large amount in surcharges and interest.
