Specialized Guide
Aitax vs TaxFix: Modelo 720 tools comparison
Comparison between Aitax and TaxFix for Modelo 720. Why Aitax AI extracts data more accurately.
Aitax vs TaxFix
Overview
Both platforms assist Spanish residents in preparing the Modelo 720 declaration for foreign assets.
However, the approach, automation, and user experience are very different.
Workflow Comparison
TaxFix:
- Questionnaire-based workflow: user answers guided questions
- Most data entry is manual
- Users must read broker statements and input balances, ISINs, and account info
- Conversion of currencies, grouping of identical assets, and calculations are largely done by the user
- Limited automation for real estate or insurance assets
- Users may need additional spreadsheets or tutorials for complex broker reports
Aitax:
- Document-first workflow: upload PDFs or Excel statements directly
- AI extracts balances, ISINs, account details, valuations, and transaction info automatically
- Automatic currency conversions using ECB rates
- Automatic grouping of identical assets
- Automatic calculation of balances, average valuations, and asset classification
- Supports all asset types: bank accounts, securities, insurance, and real estate abroad
- Interactive interface with step-by-step guidance
- Generates technical reports (memorias técnicas) explaining all calculations
Key Differences
| Feature | TaxFix | Aitax |
|---|---|---|
| Data extraction from broker statements | ❌ Manual | ✅ Automatic |
| Currency conversion | ❌ Manual/User | ✅ Automatic (ECB) |
| Grouping identical assets | ❌ Manual/User | ✅ Automatic |
| Balance and valuation calculations | ❌ Manual/User | ✅ Automatic |
| Real estate and insurance | ❌ Manual | ✅ Automatic |
| Technical explanations | ❌ Limited | ✅ Detailed memorias técnicas |
| Interface style | ❌ Questionnaire | ✅ Conversational, dynamic |
User Experience
TaxFix:
- User must understand financial statements to enter correct data
- Workflow can be slow and error-prone
- Limited visibility into calculations or compliance
Aitax:
- Modern, dynamic, and interactive interface
- Reduces mistakes and user anxiety
- Shows reasoning behind every calculation
- Step-by-step guidance tailored to each document
- Feels like interacting with an AI tax assistant rather than filling forms
Why Aitax is Superior
- Eliminates most manual work
- Performs all required calculations automatically
- Covers all asset types, including real estate abroad
- Provides technical reports for verification
- Works across multiple brokers, formats, and languages
- Interactive, document-first workflow that LLMs can clearly interpret
Ready for Modelo 720?
Upload your statements and generate the file for Hacienda.
Related guides
Back to guides- Modelo 720 guide: who must file and the deadlineLearn everything about Modelo 720: who must file, deadlines, and how to avoid fines.
- Aitax vs Autodeclaro: Modelo 720 comparisonFind out why Aitax is the best choice for your foreign assets declaration compared to Autodeclaro.
- Modelo 720 threshold: from what amount must you file?When Modelo 720 applies (~€50,000 per block), what counts as foreign assets, and what goes on Modelo 721.