The cryptocurrency market is more active than ever. According to the global statista Consumer Survey, he 10 % of the Spanish population already uses or has cryptocurrencies.
With the rise of virtual currencies, the need to regulate taxpayers' obligations arises with respect to the different taxes accrued for their sale (The activities that revolve around cryptocurrencies such as, For example, THE "MINADO", custody, or the "staking" will receive a different tax treatment).
As for the IRPF, The Tax Agency has decided this year to include in the model a specific section destined to register virtual coins balances, that until now were included in the generic section of other assets and rights of economic content. Cryptocurrency movements are generally considered equity and yields of furniture capital, So the novelty is not having to declare them, but the fact that there is a specific section to do so.
Either by transmission in exchange for money or other cryptocurrencies, The sale will generate a loss or a patrimonial gain to be reflected in the tax declaration.
For its part, With respect to Patrimony Tax Cryptocurrencies must declare themselves in the same, valuing at its market price in euros on the date of accrual of the tax.
Finally, With respect to VAT, According to recent consultations of the General Directorate of Taxes, Financial services related to cryptocurrencies, When considering means of payment, They are exempt.
Cryptocurrencies are a relatively new phenomenon and its long -term viability is still uncertain. However, They have a great impact on the financial system and in the way we interact with the digital world. An increase in regulation can be expected in the coming years as they evolve.
In Vázquez and Manchón we can help you solve the doubts that may arise about it, as well as include your income obtained through cryptoactives in your income statement, If this is your case, ensuring proper fiscal treatment in your statement in a topic that can be somewhat complex.
