The information will be available in two months and will be updated monthly
The Tax Agency (AEAT, by its initials in Spanish) has signed an agreement with the General Council of Notaries through which direct access to the information of the Database of Real Ownership of the Notaries will be able. The purpose of this process is to move along in the fight against fraud regarding the creation of opaque corporate frameworks with fraudulent purposes.
The possibility of verification of the information of 2.5 million companies by the AEAT will allow to identify the beneficial owner of any limited company, NGO, political or cooperative party and verify their identification. In addition, the Tax Agency will be able to know the beneficial owner of corporations or foreign companies that carry out operations in Spain. Thanks to this agreement, the Tax Agency will periodically have information on the operations that are registered in the Single Notarial Computerized Index and, also, access to the Single Index. Given this, the Agency governed by Jesús Gascón will have the possibility of making specific information requirements to the Notaries in order to reinforce the control of the corporate networks of independent entities.
The companies constantly suffer from a lack of connection, which facilitates the activity of those who control the creation of false networks such as the illicit displacement of income towards entities without effective taxation. Through the beforementioned agreement, the Tax Agency may have access to the total information of the database, the sequence of entities and the actual percentage of participation. The agreement also includes the provision of acts and operations included in the Single Notarial Computerized Index that will be updated every fifteen days. With these, the Tax Agency will have knowledge about operations in which a legal person or trust participates, something important taking into account the assiduity with which corporate operations occur seeking a fraudulent purpose.
In the case of the information offered by the Single Index, the Tax Agency will have periodic data of the directors, agents and administrators of companies, as well as dates of appointment and revocation of powers. This turns out to be an information of interest for the tax control in relation to financing operations, real estate, financial assets or other transferable securities, among others. In fact, the Government has already approved the tax agreement with the United Kingdom on Gibraltar, which will provide information on residents, workers, vehicles, boats and screen companies registered within a radius of 80 kilometers of this territory.
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Tags: Companies, General Council of Notaries, Treasury, Tax Agency, Database of Real Ownership of Notaries, Beneficial owner, Single Notarial Computerized Index, Single Indez, Jesús Gascón, Fraud, United Kingdom, Gibraltar