4. Values representing the transfer of own capital to third parties

Regulations: Articles 13 and 14 Wealth Tax Law

These include, among others, securities such as Public Debt, both of the State and of the Autonomous Communities, Treasury Bills, bonds, certificates and promissory notes, public and private, and loans and credits granted whose ownership corresponds to the taxpayer. Depending on whether the corresponding securities are traded on organised markets or not, the following valuation criteria apply:

• Valuation rules for securities traded on organized markets:

  They must be computed according to the average trading value of the fourth quarter of each year , regardless of their name, representation and the nature of the returns obtained. 

  For these purposes, the relationship of the securities traded on trading venues, with their average trading value corresponding to the fourth quarter of 2025, for the purposes of the 2025 Wealth Tax return and the annual information return on securities, insurance and income, is set out in the Order HAC/132/2026, of February 24 (BOE February 27).

• Valuation rules for securities not traded on organised markets:

  The valuation of each of these securities will be carried out at its nominal value, including, where applicable, amortization or reimbursement premiums , regardless of their name, representation and the nature of the returns obtained.