2.7.1.23 Asset entity
This key will be marked by entities that are considered patrimonial entities according to the provisions of article 5 of the LIS and that, therefore, do not carry out an economic activity.
For these purposes, a patrimonial entity shall be understood as one in which more than half of its assets consist of securities or are not affected, in the terms of section 2 of article 5 of the LIS, to an economic activity.
It must be taken into account that the value of the assets, securities and patrimonial elements not affected by an economic activity will be that deduced from the average of the quarterly balance sheets of the entity's financial year, or in the event that it is the dominant entity of a group according to the criteria established in article 42 of the Commercial Code, regardless of the residence and the obligation to prepare consolidated annual accounts, from the consolidated balance sheets. For these purposes, any money or credit rights arising from the transfer of assets related to economic activities or securities referred to in the following paragraph, which have been carried out in the tax period or in the two previous tax periods, shall not be taken into account.
Likewise, the following will not be counted as values:
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Those possessed to comply with legal and regulatory obligations.
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Those that incorporate credit rights arising from contractual relationships established as a result of the development of economic activities.
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Those held by securities companies as a result of the exercise of the activity constituting their purpose.
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Those that grant at least 5 percent of the capital of an entity and are held for a minimum period of one year, with the purpose of directing and managing the participation, provided that the corresponding organization of material and personal means is available, and the participating entity is not included in this section. This condition will be determined taking into account all companies that form part of a group of companies according to the criteria established in article 42 of the Commercial Code, regardless of residence and the obligation to prepare consolidated annual accounts.