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V0696-16 22 February 2016 · SG de Impuestos sobre las Personas Jurídicas Criterion in force
IS · entidad patrimonial

Determining whether an entity is a patrimonial entity requires using the average book value of balance sheets

The query asks whether the real value or the book value should be used to calculate the value of assets not related to an economic activity. The DGT rules that the value derived from the average of the quarterly balance sheets for the financial year or from the consolidated balance sheets must be used.

The question raised

Whether for the calculation of the value of the assets, securities, and equity elements not used for an economic activity referred to in Article 5.2 of the Corporate Income Tax Law, the real value of all of them must be taken into account instead of the book value at which they are recorded.

The DGT's ruling

The value of the assets, securities, and equity elements not used for an economic activity shall be that which is derived from the average of the quarterly balance sheets of the entity's fiscal year or, if it is a parent company of a group, from the consolidated balance sheets. As it is derived from the balance sheets, book values are taken into account. This determination is made regardless of the date on which the transfer of the interest occurs.

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