Crypto Tax Guide 2025: Rules for Investors in Spain

This article will cover Crypto Tax Guide for Investors in Spain 2025 and explain everything on crypto tax rules, tax rates, and reporting obligations. it will explain everything for anyone who trades, stakes, or holds assets and explain the tax regulations in Spain so you can optimize your strategy legally and responsibly.

Are Cryptocurrencies and Crypto Assets Taxed in Spain?

Sure, all benefits and crypto-activities income are also reported, and gains from crypto transactions are taxable in Spain as well. If crypto is inherited or donated, it is also considered taxable.

Wealth tax for all regions in Spain applies and is based on all assets and crypto wealth as well if it is above a threshold which is usually 700.000 euros. Investors will continue to adjust to Spain’s crypto tax developments necessary for compliance in 2025, and avoid significant penalties for the reported holdings.

How Much Tax Do You Pay on Crypto Assets in Spain?

Spain’s approach to taxing cryptocurrencies is broken down into various types, each with its own set of rules and rates. Profits made from selling crypto is categorized and taxed as savings income.

Revenue from mining and staking crypto is considered general income. Crypto that is gifted or inherited falls under the inheritance or donation tax, and if the total amount of crypto and other assets exceeds certain regional limits, the wealth tax will apply. This overview serves to explain the functionality of each tax type—treatments of particular transactions will be discussed later in the guide.

Income Savings Tax (Capital Gains Tax)

Capital gains tax applies to profits from selling, trading, gifting, or converting crypto into fiat or other cryptocurrencies. Spain uses progressive tax brackets for savings income, meaning the more you earn, the higher the rate. The 2025 rates are:

• 19% for the first €6,000
• 21% for €6,001–€50,000
• 23% for €50,001–€200,000
• 27% for €200,001–€300,000
• 28% for amounts above €300,000

Gains and losses from the transfer of assets

According to Spain’s Personal Income Tax Law, Articles 33.1 and 34, any net wealth increase—crypto profit included— qualifies as a capital gain. This includes profit from crypto-to-crypto and crypto-to-fiat exchanges.

The Profit is determined by the difference between the selling price and the acquisition cost, after converting to Euros. The Acquisition cost includes transaction fees and crypto used to pay fees is considered a taxable disposal.

For instance, a profit of €54,000 from Bitcoin sell results in a progressively calculated capital gain tax of €11,300, which consists of €1,140 at a 19% rate on the first €6,000, €9,240 at a 21% rate on the next €44,000, €920 at a 23% rate on the last €4,000.

Tax Free Crypto Transactions

Are some crypto transactions in Spain tax-free? Yes! Buying crypto, holding and transferring it between your wallets, and paying crypto wallets and even your personal accounts won’t affect your bill. Nonetheless, if you are liable to the Wealth Tax, things might be different. Make sure you are duly informed and keep your taxes in check!

The following crypto transactions are free of tax in Spain:

• Buying crypto
• Keeping crypto (unless you reach the wealth tax threshold)
• Transferring wallets
• Token swaps
• Gains received from hard forks of crypto

When do you have to pay taxes on crypto assets in Spain?

In Spain, crypto reward taxation depends on the form the rewards take. Airdrop, bounty, and non-commercial mining reward streams are treated similar to non-transmission gains and only taxed on final disposition.

With respect to airdrop gains, the tax base is the fair market value and gains are taxed on sale. On the other hand, rewards from staking, lending, masternodes, and security token distributions are taxed as income and capital gains

When the assets are received, at the market value on the receipt date. Profits from all these streams will need to be recorded in and reported in Euros. Keeping accurate, and compliant records as well as transaction details concerning the various transaction types is important for Spanish tax compliance.

Can crypto losses reduce your taxes?

Certainly, a loss can counterbalance a gain of the same type. Therefore, if you have one transaction that gains and another that loses, you can take the losses and subtract them from the profits, thus lowering the amount that gets taxed.

Furthermore, if your losses combined are more than your gains, you can carry the losses into future tax years. You can carry open losses for four years. However, you are only allowed to take 25% of your net loss for the year, and no more than that.

Crypto Inventory Method – FIFO (First In First Out)

For homogeneous assets, FIFO (First In First Out) method must be applied for the correct calculation of the capital gain result as stated in Article 37.2 Income Tax Law. This means that the assets received first will also leave the assets ‘locked’ first.

As for the Spanish Tax Agency (AEAT) FIFO methodology also applies. But for digital assets it needs to be individually tracked per account for each type of asset. In the case there is no appropriate acquisition transaction identified for the disposals, the missing assets are mark to market recorded at disposition’s zero acquisition cost.

Do I need to declare crypto holdings to the Spanish tax authorities?

You are required to declare all crypto holdings when the total portfolio value exceeds 50,000 euros and when the crypto assets are stored abroad such as in a cryptocurrency exchange or similar platform outside of Spain.

The tax authorities have stated that it is a myth that crypto assets stored outside Spain must be declared together with other foreign assets using form Modelo 720. This has been a common misconception.

As of January 1, 2023, crypto investors who own foreign crypto holdings valued at more than 50,000€ need to complete the new Modelo 721 form, which was designed specifically for crypto holdings. Moreover, if your global net worth exceeds 700,000€, you are required to include crypto holdings on your Wealth Tax declaration.

Does one have to report crypto transactions?

All capital gains and income generated from cryptocurrency and crypto assets, including crypto assets given as gifts, must be reported.

The only exception is Article 96 of the Spanish Personal Income Tax law, which states that taxpayers are not required to file a tax return if their total income from work, capital, or economic activities and capital gains for the tax year is under 1,000€.

Does the Agencia Tributaria know about my cryptocurrencies?

Agencia Tributaria likely has some knowledge of your transactions occurring on crypto exchanges whether they are in the EU or the USA. Like many of their counterparts in France and Germany, the Spanish tax authorities are reported to have directly approached major crypto exchanges and brokers to inquire about Spanish taxpayers.

Spanish crypto investors have been reported to receive requests for crypto transaction overviews for several years, in some cases, spanning multiple years.

Looking ahead, the recently adopted EU DAC 8 directive on the Administrative Cooperation will require all exchanges and crypto service providers within the EU to report transactions of their clients to the authorities of each member state.

Conclsuion

For investors in Spain, understanding the 2025 crypto tax rules is necessary to remain compliant and avoid fines. Every type of transaction will carry capital gains, income, and wealth taxes, so tax implications can stack quickly.

To avoid fines, Spain requires accurate recordkeeping, along with timely reporting and understanding local and regional thresholds. Engaging with tax advisors and employing trustworthy solutions will streamline the process.

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