Valuation rules for shares and participations in the share capital or equity fund of Collective Investment Institutions (Companies and Investment Funds), traded on organized markets

Shares and participations in the capital stock or equity fund of Collective Investment Institutions traded in organized markets must be computed at their net asset value on the date of accrual of the tax (December 31 ), valuing the assets included in the balance sheet in accordance with the rules contained in its specific legislation and the obligations towards third parties being deductible.

To facilitate the correct application of this valuation rule, entities are required to provide their partners, associates or participants with a certificate stating the valuation of their respective shares and participations.