Finance Puts an Eye on Joint Bank Accounts: the Tax Agency Warns that You Can Get Very Expensive in the Income Statement

Joint accounts between family members in Spain are common in Spain, however, few taxpayers know that they are subject to tax obligations that particularly affect them. Hacienda has put the focus on this type of bank accounts, because the Directorate General of Taxation (DGT) has had to respond to a key doubt in order to know how the holders of these accounts should be taxed in its Income Statement.