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V3079-21 ·9 December 2021 ·consulta-vinculante Medium impact
Tax

Bank balances in mainland entities cannot be treated as assets located in Ceuta

A query was raised regarding whether the balance of a current account held with a mainland entity, which allows cash withdrawals in Ceuta via an agreement, can be counted towards the requirement of having one-third of assets located in that city. The DGT ruled that it cannot, as the entity itself is not located in Ceuta.

In 5 key points

How it affects those involved

This ruling clarifies that for tax purposes related to Ceuta and Melilla, the physical location of the financial institution determines the location of the asset, regardless of where the funds can be withdrawn.

Lifecycle

2021-12-09PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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