4.2.7.4. Section G4
G4) Shares and interests in the share capital or equity of any legal entities not traded on organised markets (art. 16 Law 19/91)
This section will include shares and interests in the share capital or equity of any legal entities not traded on organised markets, except those corresponding to Collective Investment Institutions.
Rules of assessment
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Favorable audit report
The valuation will be carried out according to the theoretical value resulting from the last approved balance sheet, provided that this, either compulsorily or voluntarily, has been subject to review and verification and the audit report is favourable.
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Unaudited balance sheet or unfavorable audit report
In the event that the balance sheet has not been audited or the audit report is not favorable, the valuation will be made at the highest of the following three values:
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Nominal value
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Theoretical value resulting from the last approved balance sheet
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Value resulting from capitalizing at a rate of 20 percent the average of the profits of the three fiscal years closed prior to the date of accrual of the Tax.
The profits will include distributed dividends and allocations to reserves, excluding those for regularization or updating of balance sheets.
The following formula may be used to calculate the capitalization of average profits:
Capitalization = [(B1+B2+B3)/3]*(100/20)
B1, B2 and B3 being the profits from each of the three fiscal years closed prior to the tax accrual date.
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Shares in the share capital of cooperatives
The valuation of the shares of partners or associates in the share capital of cooperatives will be determined based on the total amount of social contributions paid, whether mandatory or voluntary, resulting from the last approved balance sheet, with deduction, where applicable, of unreimbursed social losses.
Entities must provide their partners, associates or participants with certificates containing the corresponding valuations, which will allow them to complete this section.
Completion
For each of the shares or interests, you must state: the key corresponding to full ownership or bare ownership, as the case may be, the percentage of ownership, the number of securities (the program allows decimals), the description of the securities and the value.
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.