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The consultant asks what constitutes the extinction of ownership of assets or rights abroad to comply with Article 42 ter of the General Regulation on Tax Administration and Inspection. The DGT responds that the reporting obligation continues if ownership was held at any time during the year, and the date of extinction must be reported.
Question posed: What is understood by "ownership is extinguished" for the purposes of Article 42 ter of the General Regulation of tax management and inspection proceedings and the development of common rules for tax application procedures, approved by Royal Decree 1065/2007, of July 27, in the case of securities or rights representative of any type of legal entity, as well as shares and interests in the share capital or equity fund of Collective Investment Institutions?
The obligation to report extends to anyone who has been the owner or beneficial owner at any time during the year and has lost that status as of December 31. Ownership or beneficial ownership is extinguished when the status of declarant, for which the asset has already been reported, ceases. The loss of ownership, whether partial or total, must be reflected in the informative declaration, with each participation or value being considered individually.
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