FAQs

For the purposes of this informative declaration, they may be valued by any of the means established in Articles 15 or 16 of the Wealth Tax Law, or by their listed value on 31 December.

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, to the effects of this informative report, in the case of shares and holdings in the capital or equity of corporate entities traded on a foreign regulated market with characteristics similar to those of the Spanish markets, they may be valued by any of the means provided for in Articles 15 or 16 of the Wealth Tax Act or at its listed value on 31 December.

Similarly, values representative of the transfer of own capital to third parties negotiated in a foreign organised market with similar characteristics to the Spanish market, may be valued by any of the means established in articles 13 or 14 of the Wealth Tax Act, 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, to the effects of this informative report, in the case of shares and holdings in the capital or equity of corporate entities traded on a foreign regulated market with characteristics similar to those of the Spanish markets, they may be valued by any of the means provided for in Articles 15 or 16 of the Wealth Tax Act or at its listed value on 31 December.

In the case of securities representing investment in the corporate capital or equity of a company not traded on regulated markets, they will be assessed at the theoretical value resulting from the last approved balance sheet, provided that this, in either an obligatory or voluntary manner, has been subjected to review and verification and the audit report was 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 estate, the acquisition value, as in the case of other goods and rights subject to declaration, must be adjusted to the exchange rate in force on 31 December of the financial year to which the information declared corresponds.

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

In the case of a property, once the value of the purchase has been determined, the variations in the exchange rate that take place in the years after 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 acquisition price should include expenses inherent to the purchase and taxes