In recent years, the popularity of cryptocurrencies has surged across Spain, bringing with it growing attention from tax authorities. As the 2025 tax season approaches, more individuals than ever will need to report their crypto-related activities. Whether you’ve traded, earned, or simply held digital assets, understanding how to correctly declare them is essential to remain compliant with Spanish tax law.
The Spanish Tax Agency (Agencia Tributaria) now includes a dedicated section for cryptocurrency reporting in the annual income tax return (Declaración de la Renta). This guide breaks down everything you need to know—from taxable events and reporting requirements to applicable tax rates and forms.
Understanding Cryptocurrency Taxation in Spain
In Spain, transactions involving cryptocurrencies are generally treated as capital gains or losses under the Personal Income Tax (IRPF). This means any profit or loss from buying, selling, or exchanging digital assets must be declared. What’s new is the introduction of specific fields—boxes 1800 to 1814—designed exclusively for crypto disclosures.
These fields require you to report:
- All cryptocurrency transactions during the tax year
- The acquisition value of your digital assets
- The dates on which transactions occurred
This data allows the tax authority to calculate your net capital gains or losses when generating your tax draft.
👉 Discover how to track every crypto transaction for accurate tax reporting.
Key Reporting Boxes Explained
- Boxes 1802 and 1803: Used to declare cryptocurrencies exchanged or received in return.
- Boxes 1804 and 1806: Record the value of the exchange and acquisition, enabling calculation of capital gains.
Accurate record-keeping is crucial. You must maintain detailed logs of all transactions, including wallet addresses, timestamps, fiat values at the time of transaction, and platform fees.
What Crypto Activities Are Taxable?
Not all crypto activities are treated the same under Spanish tax law. Here’s a breakdown of common taxable events:
1. Selling or Exchanging Cryptocurrencies
If you sell crypto for fiat currency (e.g., EUR), trade one cryptocurrency for another (e.g., BTC for ETH), or use digital assets to purchase goods or services, you must report any resulting capital gain or loss.
2. Earning Income Through Staking
Rewards earned through staking—locking up crypto to support blockchain operations—are considered taxable income. According to Spanish tax specialists, staking rewards likely qualify as returns on movable capital, taxed under the savings base.
While the Directorate General of Taxes (DGT) hasn’t issued an official ruling on indirect or delegated staking (via exchanges or smart contracts), most experts agree these earnings should also be declared as capital income.
3. Mining Activities
Cryptocurrency mining may be classified as an economic activity if it involves significant personal effort and resources. In such cases, income from mining could be subject to taxation under the general income base—potentially at higher rates than savings income.
However, unlike staking, mining is currently exempt from VAT due to the absence of direct compensation.
Cryptocurrency Tax Rates in Spain (2025)
Capital gains from cryptocurrency transactions are taxed under the savings base (base del ahorro) of the IRPF. The progressive tax rates for 2025 are as follows:
- Up to €6,000: 19%
- €6,001 – €50,000: 21%
- €50,001 – €200,000: 23%
- €200,001 – €300,000: 27%
- Over €300,001: 28%
These rates apply to net gains after deducting acquisition costs and related expenses.
It's important to note that if your total foreign-held crypto assets exceed €50,000, you are required to file additional informational forms—even if no transactions occurred.
Required Tax Forms for Crypto Reporting
Spain uses several models to report cryptocurrency holdings and transactions:
Modelo 172 – Virtual Currency Holdings
Used by residents to declare the value of their cryptocurrency holdings as of December 31st each year.
Modelo 173 – Virtual Currency Transactions
Reports all crypto trades and exchanges conducted during the tax year.
Modelo 721 – Foreign-Based Cryptocurrencies
Mandatory for Spanish residents who hold cryptocurrencies on foreign platforms or wallets when the total value exceeds €50,000.
Who must file Modelo 721?
- Spanish tax residents (individuals and legal entities)
- Permanent establishments in Spain of non-resident entities
- Certain non-legal entities such as estates, joint property arrangements, and other economically independent patrimonial units
Failure to file can result in penalties, so timely submission is critical.
👉 Learn how to automate your crypto tax reporting with real-time tracking tools.
Frequently Asked Questions (FAQ)
Q: Do I need to declare my crypto if I didn’t sell or trade it?
A: Holding crypto without disposing of it does not trigger a capital gain. However, if your holdings on foreign platforms exceed €50,000, you must file Modelo 721.
Q: Are gifts or transfers between personal wallets taxable?
A: Transfers between wallets you own are generally not taxable events. However, gifting crypto to someone else may have tax implications for the recipient.
Q: How should I value my crypto transactions?
A: Use the EUR market value at the exact time of the transaction. Reliable exchange data or blockchain analytics tools can help establish fair market value.
Q: Can I offset crypto losses against other income?
A: Capital losses from crypto can be used to offset capital gains from other sources. Unused losses can be carried forward for up to four years.
Q: Is staking income taxed immediately when received?
A: Yes. Staking rewards are considered taxable upon receipt, based on their EUR value at that time.
Q: What happens if I don’t report my crypto?
A: The Spanish Tax Agency is increasingly monitoring blockchain activity. Undeclared assets may lead to audits, fines, or back taxes with interest.
Best Practices for Crypto Tax Compliance
To avoid errors and ensure full compliance:
- Keep detailed records of all transactions (date, type, amount, value in EUR)
- Use dedicated crypto tax software to generate audit-ready reports
- Consult a tax professional familiar with digital assets
- File required forms before deadlines (typically April–June)
As regulatory scrutiny increases, proactive reporting is not just wise—it’s essential.
👉 Stay ahead with tools that simplify crypto tax season automatically.
By understanding your obligations and leveraging the right resources, you can confidently include cryptocurrencies in your Spanish tax declaration. With clear rules now in place and dedicated reporting fields available, transparency has never been more achievable—or more necessary.