Quarterly surveys of financial (excl. MFIs) and non-financial corporations run by the central bank. General government loans and deposits are also tracked through direct reporting to the NCB. The central bank sector positions are taken from the NCB’s balance sheet. General government data on loan contracts and repayments are obtained monthly on a cash basis from the government financial operations and accounts department of the NCB. The flows should therefore be considered deposits under other investment.
- For imports of insurance services, information is available from the ITSS survey on premiums paid by Dutch companies to foreign insurance companies.
- Estimates of non-registered workers employed, for example, in construction services, agriculture and the tourism sector are also produced for countries where this phenomenon is relevant.
- For securities with ISIN code, information from the CSDB is used to enhance the data.Financial derivatives are reported at market value.
- Data on taxes are collected by the NSI and based on data from the Danish tax administration and eIndkomst (data on income).
- Interest receipts and payments are reported as accrued according to the nature of the instruments.
- In September each year, once the data gathered via the annual questionnaire for the end of the previous year have been processed, the intermediate flows and stocks for the whole year are revised and consolidated.
Other investment income is reported monthly (based on designation) or quarterly (based on threshold). For other companies, data with full geographical and sector breakdown are collected through the annual FDI survey. The data, combined with annual profit and loss data, are used to calculate reinvested earnings.
Can I Invest My Capital Gains to Avoid Paying Taxes?
When a company has a significant number of assets, they are typically presented in categories for clearer presentation. A financial statement that organizes its asset (and liability) accounts into categories is called a classified balance sheet. Unlike gains and losses, revenues and expenses are not opposite financial results of the same activities.
The main difficulty is communicating with respondents on the b.o.p. methodological requirements. The general government sector does not hold derivative positions against non-residents. Following a decision of the board, the debits and credits cheat sheet: an accounting guide for 2023 central bank does not carry out any business in financial derivatives. They are calculated as the difference between the opening and closing positions after adjusting for the revaluations and reclassifications reported.
Capital Gains and Capital Losses
Transfers related to insurance are compiled mainly using information reported directly to the central bank. Transfers related to insurance companies are obtained from NSI estimates within the scope of national accounts. Transfers are recorded in BST survey according to the nature of transaction. In addition, for capital transfers there are estimates on write-down of trade credits.
How Capital Gains or Losses Affect Business Owners
For those enterprises, stocks are estimated as the accumulation of flows at transaction value. The smoothing exercise between reported transactions and annual survey data also has an impact on the valuation changes, which are collected but are always estimated. Price and exchange rate changes are derived from the quarterly surveys. Preliminary quarterly stocks are calculated from accumulation of b.o.p. flows.
Are Unrealized Gains Taxed?
Reporting agents are asked to report data on securities without an ISIN code (instrument classification, sector and residency of the issuer) to the NCB and store such data based on an internal identifier in the internal securities master data service. This allows non-ISIN securities to be compiled through the same process as securities that have an ISIN. Reporting agents are asked to report information on securities without an ISIN code (including details of country, currency, maturity and counterpart sector). Reporting agents include the Register of Securities (administrative source), investment and pension funds, and survey forms.
Services are not typically separate items over which ownership rights can be established, and they cannot generally be separated from their production. Quarterly merchanting data are included in the quarterly services survey received from Statistics Netherlands. Merchanting data are collected through direct surveys and then grossed up by the NSI. Merchanting data are obtained within the NCB’s quarterly survey on non-financial transactions.
B.o.p. and i.i.p. data are subject to regularly scheduled revisions in accordance with the revision calendar for data transmissions to the ECB/Eurostat. Data published on a monthly basis can be revised in subsequent quarterly data production cycles, and then for three years in the b.o.p. and i.i.p annual reports published in June. The final version of the data for all periods of year t is published in June t+3. The CSO’s general revision policy for quarterly data is to incorporate changes when data for the calendar year are being produced, i.e. the subsequent spring/summer.
A large-scale construction project contracted by a non-resident enterprise that takes a year or more to be completed will usually give rise to a resident branch. Merchanting is calculated using quarterly data obtained within the NSI’s survey on services and other international transactions. Merchanting data are derived from the ITRS and the direct reporting system on a cash basis. Merchanting data are collected through specialised monthly/quarterly surveys; selections are based on the activity code and ITGS declarations; estimations for non-response are the same as for the services surveys. Estimated imports of second-hand motor vehicles from the EU by households not covered by the Intrastat system, using Ministry of Finance data sources on a quarterly basis with a monthly breakdown. Fuel purchases abroad by Slovenian carriers (from 2008 onwards) (monthly BST reports) and estimates of non-resident carriers’ fuel purchases in Slovenia (quarterly data on card payments).
Quarterly data (ITSS) are reported directly and complemented by data from tax authorities on private-consumer imports (streaming and gambling). This item combines non-bank external payment data reported to the NCB, ITSS (NCB), MFI statistics (NCB). Data on charges for the use of intellectual property are collected by the NCB via monthly direct reports. Data (ITSS) are reported directly and complemented by additional data from tax authorities on imports by private consumers. Insurance services are based on a survey of resident insurance enterprises carried out by the financial supervisory authority.
Common methodological issues are discussed in statistical working groups once a year. The ECB requires NCBs to report monthly data to compile the stock of international reserves held by the Eurosystem (the ECB and the NCBs of the euro area countries). The reserve assets of the Eurosystem are the financial assets held and effectively controlled by the ECB and the euro area NCBs, which are issued by residents outside the euro area and denominated in currencies other than the euro.
Supplementary data sources include, without limitation, FATS and information retrieved from the annual statements of companies, the companies register, commercial data sources, and the press. Quarterly aggregates (stocks and flows) of Lithuania’s real estate holdings by non-residents are available from the State Real Estate Register. A direct investor is the entity or group of related entities that is able to exercise control, or a significant degree of influence, over another entity resident in a different economy.
Liabilities on debt securities are reported at nominal value (including accruals). Spanish securities issued abroad and acquired by Spanish residents are covered by the aforementioned sources (s-b-s) and are included in the calculation using the residual approach. On an s-b-s basis, we check for dividends in relation to end-of-period stock. For large factors (dividend/stock), the dividend is not registered as investment income.
