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A query was raised regarding whether American Depositary Receipts (ADRs) of a bank listed in New York constitute homogeneous securities to its shares on the Spanish stock exchange. The Directorate General of Taxes (DGT) ruled that they are not, as ADRs are issued by a different entity for a specific purpose.
Cuestión planteada Si las acciones de una determinada entidad bancaria cotizadas en la Bolsa española y los "american depositary receipt" (ADR) de la misma entidad bancaria cotizados en dólares en la Bolsa de Nueva York tienen la consideración de valores homogéneos a los efectos de una posible transmisión.
Los ADR no tienen la consideración de valores homogéneos con las acciones subyacentes. Aunque confieren derechos similares, son emitidos por una entidad diferente para facilitar la inversión en el extranjero. Por tanto, no cumplen los requisitos del Reglamento del IRPF para ser considerados valores de la misma naturaleza y régimen de transmisión.
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