The information will be very useful for the fight against tax fraud in relation to the creation of opaque corporate frameworks for fraudulent purposes.

Similarly, the Agency may also have a periodic supply of information on certain operations or groups of operations contained in the Single Notarial Computerized Index, as well as with a direct and individualized telematic access to the Single Index, and also regulates the possibility of making specific information requirements to the Notaries.

The agreement between both parties implies a strengthening of the collaboration that the Agency and the Notaries had been maintaining based on previous agreements, as well as a significant improvement in obtaining information for the fight against fraud, offering, therefore, benefits that they will result in society as a whole.

The Real Ownership Database

The systematic access of the Agency to the information of notaries on the real ownership of legal persons will strengthen the control of corporate networks of supposedly independent entities.

The apparent lack of connection between these types of companies makes it easier for those who control them to create fake billing networks or fraudulent operations such as reciprocal billing to eliminate group benefits, the illicit displacement of income to entities without effective taxation, obtaining returns inadmissible or the lifting of goods.

The agreement also contemplates that both parties will agree on the way in which the Agency may obtain, to the extent that it reaches the information in the database, the sequence of entities through which a natural person is the legal holder of some actions or participations, as well as the real percentage of their participation (based on the successive percentages of indirect participations).

The mechanism for providing information should provide for both 'ascending' consultations (from a society, knowing their owners, natural persons), and vice versa ('descending' consultations).

The information of the Real Ownership Database, which the Agency considers of high quality and usefulness for the repression of tax fraud, will be available within two months and will be updated monthly.

Information of the Single Notarial Index

In parallel, the agreement contemplates the supply to the Agency of acts and operations contained in the Single Notarial Computerized Index, a supply that will be made by computer or telematic means, with a biweekly update of the information.

In this case, it is of special importance for the Agency the information that it will obtain on acts and operations in which a legal person or a 'trust' participates, given the assiduity with which corporate operations are carried out with the sole purpose of creating opacity networks that allow the realization of fraud activities. The analysis of the information contained in the index will facilitate the Agency the study of complex corporate networks through 'Big Data' technology.

In addition, through the Single Index, the Agency will have a periodic supply of the identifying data of constituents (the persons who grant a power to a third party to act on their behalf), attorneys and administrators of companies, as well as the dates of appointment and revocation of those powers.

Similarly, access to the index will allow the Agency to obtain information of interest for tax control over financing operations, real estate, financial assets and other transferable securities, and also operations in which the intervenors before the notary have refused to identify the means of payment used, or not fully accredited, or cases in which they have breached the obligation to provide the notary with the Tax identification number, or the document 'S-1' of cash movements when relevant.

Agreement to facilitate notaries

On the other hand, the General Council of Notaries and the Tax Agency have also signed an agreement that establishes a general framework for collaboration on the terms and conditions under which notaries can take actions before the Agency on behalf of the taxpayers who have intervened in your notary.

Thus, it is facilitated to the notaries the presentation of declarations of census character that will allow the obtaining of NIF in certain cases, as well as the presentation of declarations in the scope of the Inheritance and Donations Tax when taxpayers must pay taxes to the State.

Source of new