4,2,18. Rules for the valuation of assets acquired, located or deposited abroad
In the case of assets acquired, located or deposited abroad, to express their valuation in euros for the purposes of Wealth Tax, the following rules must be taken into account:
- Equity elements whose valuation rules address the acquisition value.
In the case of equity elements whose price, consideration or acquisition value is originally encrypted in currency other than the euro and is one of these figures for which they must be calculated for the purposes of this tax, the equivalent value in euros must be determined:
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In the case of currencies other than those of the Member States of the European Union that have adopted the euro, depending on the exchange rate euro official corresponding to the accrual date of the Tax published by the European Central Bank or, failing this, the last official exchange rate published previously.
If there is no official exchange rate, the market value of the monetary unit in question will be taken as a reference.
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In the case of the former currencies of the European Union Member States that adopted the euro, depending on the conversion rates irrevocably fixed taking into account for conversion and rounding off the rules established by Council Regulation (EC) No 1103/97 of 17 June on certain provisions relating to the introduction of the euro.
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- Real estate located abroad.
In the case of real estate located abroad, they must be declared in this tax for the equivalent value in euros of the price, consideration or acquisition value, determined in accordance with the provisions of the previous rule 1.
- Deposits in account in currency other than the euro.
Deposits in a checking or savings account, in the demand or in the term, will be calculated by the balance that they generate in the tax accrual date, unless the tax is lower than the average balance corresponding to the last quarter of the year, in which case the latter will be applied.
For these purposes, the average balance will be calculated in the currency in question, in accordance with the provisions of the article 12 of Act 19/1991, of 6 June, on Wealth Tax, which is then determined as equivalent in euros as set out in Rule 1. \'
- Securities traded on organised markets abroad.
When the Tax Act refers to "organised markets," it must be understood that these are exclusively the organized markets regulated by Law 24/1988, of 28 July, on the Securities Market (Official State Gazette of 29 July). Therefore, securities traded on organised markets abroad will be valued, for the purposes of this tax, in accordance with the rules established for securities not admitted to trading, taking into account the provisions of the following rule in the case of securities representing the share capital or equity of entities.
- Securities representing the participation in foreign entities'own funds, not traded on organised markets.
In the case of shares and holdings in the share capital or in the equity of any type of foreign entity, not traded on markets organized by Spanish, to determine the value resulting from capitalizing the average profits of the three social years at the rate of 20 per 100 closed before the tax accrual date, the average of these profits will be calculated in the corresponding currency, and the equivalent value will then be determined in euros in accordance with the provisions of Rule 1