Authorization for cooperative entities to take stakes in non-cooperative entities in a percentage greater than 40%

Denomination

Authorization for cooperative entities to take stakes in non-cooperative entities in a percentage greater than 40%

Procedure type

Authorisations, permits, concessions and approvals

Subject

Taxes

Purpose

Article 13 of Law 20/1990 regulates the causes of loss of the status of a fiscally protected cooperative and includes, among them, in section 9, the case of the acquisition of shares in non-cooperative entities in amounts greater than 10 percent of its capital. Exceptionally, it is possible to acquire higher participations which, when they exceed 40 percent, must be authorized by the Ministry of Finance, provided that it is justified that such participation "contributes to the better fulfillment of the cooperative social purposes and does not imply a violation of the fundamental principles of action of these entities".

Responsible body

State Revenue Office

Start form

interested

Applicant: Company

Place for presentation

Telematics.

Documentation

Request by the taxpayer, justifying the origin of the request.

Phases of the procedure/service

Start: request by the taxpayer.

Procedure: rectification requirement / Proposed resolution and hearing process.

End: resolution accepting or denying the request.

Forms

Electronic processing

Resolution deadline

6 months

Resolution body

State Revenue Office

Resources

Sponsored links: within a period of 2 months, in accordance with article 46 of Law 29/1998, of July 13, regulating the Contentious-Administrative Jurisdiction.

Identification system

Electronic certificate

Interactivity level

Level 4: Electronic processing