Spain
ModerateBitcoin & cryptocurrency tax overview
Capital Gains Tax
Crypto disposals are treated as capital gains under savings income (rentas del ahorro). Rates: 19% on first 6,000 EUR, 21% on 6,000-50,000 EUR, 23% on 50,000-200,000 EUR, 27% on 200,000-300,000 EUR, 28% above 300,000 EUR.
Income Tax
Mining rewards and staking income are treated as general income (rendimientos del capital mobiliario or economic activity income) taxed at progressive rates from 19% to 47%. Fair market value at receipt is the taxable amount.
VAT / GST
Exempt. The Court of Justice of the EU ruled crypto-to-fiat exchange is VAT exempt (Hedqvist, C-264/14), and Spain follows this. Buying or selling cryptocurrency is not subject to Spanish IVA for individuals.
Mining Tax
Miners operating as sole traders (autónomos) must register an economic activity and pay progressive income tax on profits. They may also be subject to IAE (business activity tax) and must charge IVA if providing services, though crypto output itself is VAT exempt.
Key Takeaways
- Spain has a moderate approach to cryptocurrency taxation.
- Capital gains on Bitcoin: Crypto disposals are treated as capital gains under savings income (rentas del ahorro). Rates: 19% on first 6,000 EUR, 21% on 6,000-50,000 EUR, 23% on 50,000-200,000 EUR, 27% on 200,000-300,000 EUR, 28% above 300,000 EUR..
- Income tax treatment for crypto: Mining rewards and staking income are treated as general income (rendimientos del capital mobiliario or economic activity income) taxed at progressive rates from 19% to 47%. Fair market value at receipt is the taxable amount..
Tax Summary
Spain taxes cryptocurrency capital gains as savings income at rates between 19% and 28% depending on the gain amount. Income from staking and mining is subject to general income tax at progressive rates up to 47%. Spanish residents must also report foreign crypto holdings above 50,000 EUR via Modelo 721, introduced from fiscal year 2023 onward.
Frequently Asked Questions
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Disclaimer
This information is for general reference only and should not be considered tax advice. Tax laws change frequently and may vary based on individual circumstances, residency status, and transaction type. Always consult a qualified tax professional in your jurisdiction before making financial decisions based on this information.