Updated reporting requirements in respect of accounts, loans, and transactions
Royal Decree 253/2025 (dated April 1, 2025, and published in the official gazette on April 2, 2025) introduces significant changes to the tax reporting requirements for the financial sector.
The changes update the existing regulations (RGAT per its Spanish acronym) to reflect the development of new electronic payment services and methods offered by both national and international financial institutions. The updated provisions extend the list of affected institutions, while introducing new reporting obligations and, in some cases, altering the frequency with which the relevant information must be reported.
In particular, the decree make changes to RGAT Articles 37 (reporting obligation in respect of accounts held at financial institutions), 38 (reporting obligation in respect of loans, credit positions, and cash movements), and 38 bis (reporting obligation in respect of payments made using any type of card and payments associated with mobile phone numbers), and introduces a new Article 38 ter (reporting obligation in respect of transactions performed using all types of cards).
Read an April 2025 report prepared by the KPMG member firm in Spain