Asset declaration refers to a process where an individual or entity declares all their assets, including property, investments and other holdings. This is usually done for tax purposes, to ensure that individuals are paying the correct amount of tax based on their income and assets. Asset declarations can also be required by law in certain situations, such as when running for public office or applying for a government position. The process typically involves providing detailed information about each asset, including its value, location, and any associated debts or liabilities.