
The taxation of cryptocurrencies in Spain
A natural person who invests in cryptocurrencies will have to declare their profits in their income tax return, while a legal entity will have to declare their profits in their corporate income tax return.
A natural person who invests in cryptocurrencies will have to declare their profits in their income tax return, while a legal entity will have to declare their profits in their corporate income tax return.
In January 2021, the Government implemented a reform in the tax tranches of the PIT for labour income and there will be an increase of two percentage points, from 45% to 47%, for income above 300,000 euros.
Negative taxable bases (BINs) can be offset in subsequent tax periods without any time limit, although with a series of quantitative limitations depending on the amount of the entity’s turnover.
The procedure for claiming Form 720 fines will depend on the situation of each taxpayer: appeals in progress, appeals not lodged but penalties within the deadline for appeal and final penalties.
It is a mechanism to provide incentives for certain activities insofar as the results derived from them have repercussions not only for the company that carries them out, but also for society as a whole.