Spain - Ekhbary News Agency
The Spanish Tax Agency (Agencia Tributaria) has significantly updated the process for declaring cryptocurrencies during the annual income tax campaign. New specific fields, numbered 1800 to 1814, have been established to detail gains and losses from digital asset transactions. Taxpayers are now required to provide a breakdown of acquisitions, sales dates, and values, moving beyond a simple net balance declaration. This intensified scrutiny reflects the growing importance of digital assets in personal finance and the agency's commitment to comprehensive oversight.
Crucially, any exchange of one cryptocurrency for another (a 'permuta') is now explicitly considered a taxable event, generating capital gains or losses. The agency will apply the FIFO (First In, First Out) method for calculating these transactions. Income from professional mining activities is treated as economic activity, taxed accordingly. Staking rewards, particularly through delegated platforms, are generally classified as income from movable capital, carrying different tax implications. Furthermore, Spanish residents holding foreign-based crypto assets exceeding €50,000 must now file the informative Modelo 721 declaration, ensuring international asset reporting.
