Tag: cryptocurrencies

How cryptocurrencies are taxed in Spain

Firstly, there are three different reporting obligations, which has led to the approval of three different forms, applicable to the following persons and entities: In form 721, persons holding virtual currencies abroad must provide the following information: In Form 172, which focuses on services related to the holding of virtual currencies, i.e., the protection of… Continue reading How cryptocurrencies are taxed in Spain

Tax advisor: Provisions approving forms 721, 172 and 173 related to cryptocurrencies are published

The Official State Gazette (BOE) of July 29, 2023 has made public the entry into force, the following day, of two orders related to the informative declarations for virtual currencies: on the one hand, Order HFP/886/2023, of July 26, which approves model 721 called “Informative declaration on virtual currencies located abroad”, and establishes the conditions… Continue reading Tax advisor: Provisions approving forms 721, 172 and 173 related to cryptocurrencies are published

Tax advisor: Tax cooperation in the European Union for cryptocurrencies and high net worth assets

The Council has reached an agreement on its position on amendments to the Directive on administrative cooperation in tax matters. These amendments mainly focus on the reporting and automatic exchange of information on income derived from cryptocurrency transactions, as well as on the disclosure of information on previous tax rulings for high net worth individuals.… Continue reading Tax advisor: Tax cooperation in the European Union for cryptocurrencies and high net worth assets

Tax advisor: Taxation and control in the investment of cryptoassets

Some 12% of the Spanish population currently holds investments in cryptocurrencies. This growing trend has led the tax authorities to ask companies to declare their clients’ cryptocurrency balances. However, what is the difference between a cryptocurrency and a cryptoasset? When should the corresponding declaration be made for each of them? Several questions arise regarding this… Continue reading Tax advisor: Taxation and control in the investment of cryptoassets