Agreement between the Tax Agency and the College of Registrars

• The Registry of Real Ownership, created under European regulations on the prevention of money laundering, collects information on the real ownership by natural persons, directly or indirectly, of more than 25% of the share capital of an entity.
• The new agreement with the Registrars also contemplates the daily electronic transmission of the information contained in the BORME, including the NIF of legal and natural persons.
• Advanced electronic communication procedures are established for registration applications that the Agency sends to the Registries.

September 30, 2021 .- The Tax Agency and the College of Registrars have signed a new agreement that will allow the Agency to access the Registry of Real Ownership, thus expanding the information it has available in this matter to combat those forms of tax fraud in which opaque corporate networks are used for fraudulent purposes.

Under the agreement, the Agency will be able to consult and obtain information on real ownership of shares and shares of the companies that appear in the Commercial Registry. This information contained in the Registry of Real Ownership is considered relevant for the exercise of the functions entrusted to the Tax Agency in relation to the fight against tax fraud carried out through corporate networks of supposedly independent entities.

The Registry of Real Ownership, created under European regulations on the prevention of money laundering, collects information on the real ownership of natural persons, directly or indirectly, of more than 25% of the share capital of an entity, as well as as, where appropriate, information on the so-called 'assimilated beneficial owners' (the administrators).

Access to this data by the Tax Agency will facilitate the detection of fraudulent behavior by entities apparently not linked to each other, such as reciprocal billing to eliminate group profits, the illicit transfer of income to entities without effective taxation, the obtaining of improper returns or removal of goods.

Strengthening mutual electronic communications

Also as a novelty, and in order to favor the development of tax procedures, the agreement advances in the submission of registration information on entities, establishing the daily electronic transmission of the information contained in the Official Gazette of the Commercial Registry, so that the College of Registrars will transfer the information from the BORME (Section One and Section Two) to the Agency, including the identification by means of NIF of the legal entities and, if available, also of the natural persons.

In turn, and thanks to the development of new technologies, the agreement can establish more advanced electronic communication procedures between the two parties. Thus, the transfer of the communication by the Tax Agency to the Commercial Registries of the provisional deregistration agreements and the corresponding rehabilitations in the Entity Index is articulated, or the electronic procedure for the presentation in the Commercial Registry of the declaration of failure of registered entities.

This improvement in electronic communication will also cover the communication to the Commercial Registry of the revocation or rehabilitation of the NIF assigned to legal persons or entities and the presentation of documents related to seizures carried out by the Agency. The use of the electronic registry channel is also established to send information requests to the Registrars.