4.2.3.1. C1) Non-exempt assets and rights related to business and professional activities (except for affected real estate)

Assets and rights affected by economic activities according to the Personal Income Tax regulations will be computed at the value resulting from their accounting, by the difference between the real assets and the liabilities payable, provided that the former complies with the provisions of the Commercial Code.

In the absence of accounting adjusted to the Commercial Code, the valuation of each asset or right affected by the activity will be that resulting from the other valuation rules of this Tax and which are included in the remaining sections.

Completion

You must indicate the following data for each asset or right:

• The IAE (Tax on Economic Activities) Section.
• The key that corresponds to whether the property is owned in full ownership or by a right of usufruct. If you have part ownership and part usufruct, the completion will be done by differentiating the percentage of ownership from the percentage of usufruct and filling in the data corresponding to each of them.
• The percentage of ownership or, where applicable, usufruct.
• The nature of the property (urban, rural)
• The cadastral reference (in the case of rights over real estate).
• The address where the activity takes place.
• The description of the asset or right.
• The valuation of the asset in accordance with the valuation rule set out above.

If you have to relate more elements than those contemplated in the program, you can declare them cumulatively in the last box. In this case you will only have to fill in the data relating to the description and the valuation.