Spanish Treasury Admits That Cryptocurrency Holdings Don’t Need to Be Declare...
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....
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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....
The Spanish parliament has introduced an amendment to the tax model 720 used to declare cryptocurrency and other holdings abroad, softening some of the penalties associated with it. The modification, which has not yet been approved, changes some of the harsher penalties that were declared illegal by the Court of Justice of the European Union last month. New Model 720 in Parliament An amendment of the tax model 720, which forced taxpayers to disclose crypto and other kinds of asset holdings outside of the country, was introduced in the Spanish Parliament on February 10th. The antifraud law....
Spanish authorities are enforcing their tough stance on the cryptocurrency industry, and the national tax agency seems to be taking it very seriously. Now, the Hacienda issued 14,800 warning letters to Spaniards under their watch for allegedly having failed or need to declare crypto holdings. Fines Could Be ‘Over $5,900’ if a Crypto Holder Fails to Declare Mandatory Tax Filings According to Telemadrid, Spain’s tax agency was clear on making cryptos taxable, and notifications have already arrived to their correspondent receivers. Spanish crypto holders should declare their....
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....