I’m new to ShareSight and I’m looking for something to track my FIFO stocks transactions in Spain. My understanding is that the CGT report is not available for Spain? Why is that? Is there some workaround that I can do?
Hi @alex10 we currently don’t provide CGT Report for Spain unfortunately. The only way I can think of is to run the All Trades Report, sort by holdings, and you’re able to do FIFO with that report in a spreadsheet. I’ll add your request to our list for future consideration. Thanks!
• What feature do you want to see in Sharesight?
It would be awesome if you think about adding the optional feature of setting FIFO transactions on holdings
• Why do you want it?
It is something affects directly the regulation of some countries (Spanish regulation, i.e)
• How is this affecting you?
The tracking of my gains and losses and performance is nor accurate
• Do you currently have a workaround solution? If yes, what is it?
No, i have not
• Can we reach out in future to ask follow up questions about this idea?
Yes, reach me if you need it.
Hi @recluising thanks for the suggestion. I assume the requirement for Spain government when it comes to tax return is that they only allow FIFO and not any other method like average cost base, is that correct? Thanks!
Yes, that is correct
Thanks @recluising ! I’ll pass this to the product team
Thanks a lot!
Any news on this? I’m new to ShareSight and I’m looking for something to track my FIFO stocks transactions in Spain. My understanding is that the CGT report is not available for Spain? Why is that? Is there some workaround that I can do?
I don’t see why Sharesight cannot make the report available in Spain (or europe) so that once generated each party can calculate what they want (FIFO or otherwise,) . It’s not an automatic load the tax authority
any update @RickyYeo ?
so @RickyYeo . We know that this was on the roadmap and it shouldn’t be that complex. This is preventing me to buy the subscription.
Any update here @RickyYeo ?
Hi @recluising , no update yet unfortunately. We do get a number of request on CGT report for European countries i.e Norway, UK, Czech, etc, but we haven’t got any plan to start the work yet. The next report project will be the 12 months income forecast. I haven’t been briefed on what’s going to come after that.
I’ll keep this post updated. Sorry for the disappointment.
@RickyYeo but it doesn’t make a lot of sense, as far as I know in most european countries (if not all of them) FIFO is used to measure capital gains, so this is what you should implement to address the issue quickly at multiple countries at once, a FIFO feature. Shouldn’t be complex at all from your end. Still not buying this product due to this.
Hi @alex10 you’re right it doesn’t look like something hard to do, although I am speaking as a non-programmer. We get hundreds of ‘this is not something hard to do’ ideas every month. So the developers still need to priorities which one to pursuit. We look at:
- Complex idea that benefit many customers
- Complex idea that benefit a few customers
- Simple idea that benefit many customers
- Simple idea that benefit a few customers
So we are always trying to priorities what to build by looking at ones that will benefit a big customer base.