Spanish Treasury Introduces New Crypto Tax Model Featuring Balance Reports
The Spanish treasury has introduced a new series of requirements regarding the reporting and taxation of cryptocurrency holdings in the country. The new rules include the obligation of taxpayers to disclose all of their cryptocurrency holdings to the tax authorities, as well as their value in euros, including details of transactions with the addresses of origin and destination. Spanish Treasury Proposes New Crypto Rules Spain is sharpening its taxing apparatus when it comes to cryptocurrency holders. The Spanish Treasury has proposed a new set of rules that will apply to....
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Spain’s Ministry of Treasury has admitted that Spanish citizens are not forced by law to declare their cryptocurrency holdings under the disputed Model 720, which involves declaring funds held abroad. While the antifraud law approved last year established this duty, there are still no rules regarding cryptocurrency after Model 720 was declared to be illegal by European laws.
No Obligation to Include Crypto in Tax Statements Under Model 720
The Spanish Treasury Ministry has admitted that the current legal framework does not include the obligation for Spaniards to declare....
The Spanish treasury ministry has announced it will postpone the establishment of the complete framework for declaring taxes related to cryptocurrency assets until 2023. While the Spanish government has advanced when it comes to cryptocurrency regulation, the specifics of what will be taxed and in which way are still a mystery for traders and holders. The organization is still looking for information to control these tax statements effectively.
Spanish Treasury Ministry Will Begin Formulating Crypto Tax Requirements Next Year
The Spanish Treasury has announced it will hold off....
The Spanish Treasury has responded to an inquiry regarding Bitcoin gambling from law firm Abanlex. The lawyers asked for clarification on several key points from the Directorate General for the Regulation of Gambling (DGOJ), which is a government body accountable to the State Secretary of the Treasury. The State Secretary of the Treasury is the governmental authority "which regulates, authorises, supervises, controls and, if necessary, penalises gambling activities in Spanish State." Spanish Bitcoin users have had strong backing by services such as Segundamundo.es and incoming Bitcoin....
The State Agency for Tax Administration of Spain published guidelines to reduce tax evasion for cryptocurrencies, such as bitcoin. The document is part of the general program of the so-called Annual Tax and Customs Control Plan. Spanish Tax Authorities Could Ask Local Exchanges for Customers Data According to the paper, the Spanish Treasury’s entity seeks to apply three measures, as the crypto markets’ hype generates “tax risks.” That’s why the agency expects to gather information as countermeasures against tax-related crimes. The watchdog is looking with the....
Development of the Spanish blockchain and cryptocurrency industries continued apace in 2021. In Spain, companies across various industries — not just digital finance — have begun to apply blockchain technology to their operations. This disruptive technology has promoted pioneering projects in the country that are expected to add 20 billion euros to Spanish gross domestic product by 2030.As expectations around this technology increased in Spain throughout 2021, so did investment, hype and concerns regarding the stability and regulation of digital assets.Here, we will take a look at some of....