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V1388-14 23 May 2014 · SG de Tributos Criterion in force
OTRO · comunidad de bienes

Partnership must provide its Tax Identification Number when dealing with credit institutions

A query was raised regarding whether a bank account for a partnership must be held in the name of the partnership itself using its own TIN, or if it can be held in the names of the individual partners. The Directorate-General for Taxes (DGT) ruled that, as the partnership is a tax-liable entity, it must provide its TIN for all transactions conducted with the bank.

The question raised

Must the bank account in which the community of property's income and expenses are processed be opened in the name of the community using its NIF, or is it sufficient for it to be in the name of the co-owners?

The DGT's ruling

Communities of property, lacking legal personality but constituting an economic unit or separate assets, are considered taxpayers. Therefore, they must communicate their own tax identification number (NIF) to credit institutions in the transactions carried out with them.

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