FAQs

For the purposes of this information statement, they may be valued by any of the means established in articles 15 or 16 of the Wealth Tax Law, or by their market value as of December 31.

With respect to this informative return, they may be valued by any of the means established in articles 13 and 14 of the Wealth Tax Act, or by their market value as of 31 December.

The taxpayer should declare the balance as of 31 December every year, according to the rules established in Law 19/1991, dated 6 June, on the Wealth Tax.

However, for the purposes of this information statement, if the shares or interests in the capital or equity of legal entities traded on a foreign organised market with characteristics similar to those of the Spanish market are involved, they may be valued by any of the means established in articles 15 or 16 of the Wealth Tax Law, or by their market value as of 31 December.

Likewise, if the securities are representative of the transfer to third parties of equity traded on a foreign organised market with characteristics similar to those of the Spanish market, they may be valued by any of the means established in articles 13 or 14 of the Wealth Tax Law, or by their market value as of 31 December.

If they are securities representing participation in the corporate capital or equity of a company traded on regulated markets, excluding those corresponding to Collective Investment Institutions, they will be valued in accordance with the average trading value negotiation of the fourth quarter of each year (Article 15 of the Wealth Tax Act nº 19/1991 of 6 June).

However, for the purposes of this information statement, if the shares or interests in the capital or equity of legal entities traded on a foreign organised market with characteristics similar to those of the Spanish market are involved, they may be valued by any of the means established in articles 15 or 16 of the Wealth Tax Law, or by their market value as of 31 December.

If the securities are representative of participation in the share capital or equity of an entity (not traded on organised markets), their valuation will be carried out at 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. If the balance sheet has not been audited or the audit report was not favourable, the assessment will be made as stipulated also in Article 16 of the Wealth Tax Act nº 19/1991 of 6 June.

Whether the building was acquired by donation or inheritance, the acquisition price will be put on record, given that this value is understood as the real value of the good at the moment of its acquisition.

The taxpayer will have to inform about the balances corresponding to the current account applying the exchange rate from 31 December of the financial year to which the declared information corresponds. This reference will be taken in relation to the valuation of the average balance of the last quarter corresponding to every account.

If the ownership of the account terminates during the financial year and there is obligation to declare, it will have to be used to determine the balance the exchange rate from the date of the ownership termination.

In the case of real properties, the acquisition value, as in the rest of goods and rights subject to tax return, must adjust to the current exchange rate of 31st December of the financial year to which the declared information corresponds.

Yes, unless this is mandatory with regards to the ownership of properties.

In the case of a property, once the value of the purchase has been determined, variations in the exchange rate that take place in the years following the year of the Income tax filing will not be taken into account to determine if there has been an joint increase in value higher than 20,000 euros, for the purposes of filing a new informative Tax return of the property.

For the rest of goods and rights subject to mandatory reporting, changes in exchange rates must be taken into account for the purpose of valuing the entirety of each group of goods and determining if they should be re-declared.

Example: If in financial year 2013 an informative return for accounts located abroad was presented, declaring the balance as of 31 December 2012 applying the current exchange rate on that date to express said balance in Euro. In the 2014 fiscal year, it is not mandatory to refile an informative Tax return on the same (provided that ownership of the same has not terminated) unless the joint balance of all the accounts abroad, taking into account the exchange rates at 31 December 2013, has increased by €20,000 with respect to the joint balance that determined the obligation to file a Tax return in the 2013 fiscal year.

Yes, the purchase price will include expenses inherent to the purchase and taxes.