Crypto Tax in Spain

Spain has one of Europe's strictest crypto tax frameworks, gains are taxed under income tax, crypto-to-crypto swaps count, and there are separate declarations for foreign holdings and wealth. This guide covers the rates, forms, and deadlines. CryptaTax then builds your Spanish report from your transaction history.

This is general information, not tax advice. Spanish crypto rules change and depend on your circumstances (including your autonomous community). Confirm the current position with the Agencia Tributaria (AEAT) or a qualified tax advisor.

Is crypto taxed in Spain?

Yes. Gains on crypto are capital gains (*ganancias patrimoniales*) taxed in the savings income base of IRPF. A taxable event happens when you sell crypto for euros, swap one crypto for another, spend it, or gift it. Moving crypto between your own wallets isn't taxed (keep records proving both are yours).

Capital gains

Your gain is the disposal value minus your cost basis (purchase price plus costs), taxed at Spain's progressive savings rates:

• up to €6,000: 19%
• €6,000, €50,000: 21%
• €50,000, €200,000: 23%
• €200,000, €300,000: 27%
• above €300,000: 28%

• Cost basis: Spain requires the FIFO method.
• Losses can offset gains.

Crypto income, wealth and gifts

• Staking rewards are generally taxed at the savings rates above (value at receipt). Mining and crypto received as payment are general income (up to ~47%).
• Wealth tax (*Impuesto sobre el Patrimonio*): crypto counts toward your net wealth; thresholds vary by autonomous community (broadly from ~€700,000), declared on Modelo 714.
• Gifts/inheritance: crypto gifts can attract donation tax (regional, roughly 7%, 36%).

Which forms do I file?

• Modelo 100, your annual IRPF return; report crypto gains in the savings-income section and staking/mining income in the relevant box.
• Modelo 721, informational declaration of crypto held abroad over €50,000 (filed 1 January, 31 March). Note: Modelo 720 no longer covers crypto, use 721.
• Modelo 714, wealth tax, if your net assets exceed the threshold.

Key dates

• Tax year: calendar year (1 January, 31 December).
• Modelo 100 (Renta): filing opens early April; deadline 30 June for the prior year.
• Modelo 721: 1 January, 31 March.

How CryptaTax helps with Spanish crypto tax

• Imports your full history from exchanges and wallets
• Calculates gains with the FIFO method AEAT requires
• Applies the 19%, 28% savings-rate bands and separates income
• Produces the figures for your Modelo 100 and supports your Modelo 721 / 714 declarations

Common mistakes to avoid in Spain

Spain runs one of Europe's more demanding crypto regimes, and the AEAT has made clear it expects crypto on the IRPF return. Most problems come not from the rates but from treating crypto activity as if it were invisible, assuming that because no euros hit your bank account, nothing happened. In Spain a great deal happened, because crypto-to-crypto swaps, spending and gifting are all disposals.

• Not reporting crypto-to-crypto swaps. This is the single biggest trap. Every swap is a disposal measured in euros, so an active trader can have a large taxable result for a year in which no money ever left an exchange.
• Using the wrong cost-basis method. Spain expects FIFO, so picking and choosing which coins you sold, or averaging when you shouldn't, produces figures the AEAT won't recognise.
• Overlooking the foreign-holdings informational declaration. Holdings on overseas exchanges above the relevant threshold trigger a separate declaration. It carries its own deadline and is independent of paying tax on gains.
• Confusing income with capital gains. Staking, mining and crypto received as payment don't all land in the same place on your return. Putting income in the savings base, or gains in the general base, distorts the tax.
• Forgetting wealth tax and regional rules. Crypto counts toward net wealth, and thresholds and rates vary by autonomous community, so two people with identical portfolios can owe different amounts depending on where they live.

Each of these is avoidable with a complete record and the correct classification of every event. The exact rate bands, thresholds and deadlines for your year are in the summary table on this page; confirm them with the AEAT or your *asesor fiscal* before filing, because regional variation means general figures only get you so far.

Record-keeping for Spanish filers

Because Spain taxes swaps and requires FIFO, your records have to be complete and correctly ordered, the method literally depends on knowing which coins you acquired first. A patchy history doesn't just risk a wrong number; it makes the required method impossible to apply at all. The goal is a continuous, chronological ledger of everything, not just the trades where euros appeared.

• Every acquisition in order, date, asset, quantity, euro value and fees, because FIFO consumes your earliest lots first.
• Every disposal, including crypto-to-crypto swaps, spending and gifts, each valued in euros on the day.
• Staking, mining and payment income, valued in euros at receipt and tagged so it reaches the correct part of the return.
• Transfers between your own wallets, with evidence both ends are yours, so they aren't read as disposals.
• Year-end balances and valuations for any wealth-tax assessment and the foreign-holdings declaration.
• Records of accounts held abroad, ready for the informational declaration of overseas holdings.

Hold this evidence for the period the AEAT can review, and capture it early, exchange exports thin out over time, and self-custody history is only as good as the addresses you remember to include. CryptaTax assembles this ordered ledger from your connected sources and applies FIFO consistently, which removes the most error-prone part of a Spanish return.

Year-end and planning considerations

Spanish planning works across two layers at once: the income-tax result on your realised gains, and the wealth-tax view of what you hold at year-end. Because swaps are taxable, even reorganising a portfolio inside crypto can produce a result, so it's worth reviewing your realised position before the year closes rather than discovering it at filing time. Where you sit in the progressive savings-rate bands can also influence whether a planned disposal is better this year or next, the bands themselves are in the summary table on this page.

Losses matter too: realising positions that are under water can offset gains within the Spanish rules, and our tax-loss harvesting guide explains the general approach, while our cost-basis guide shows why FIFO changes the size of each gain you realise. On the wealth side, remember that your year-end valuation drives that assessment, and that autonomous-community rules differ, so a plan that makes sense in one region may not in another. Document every decision and confirm the regional position before acting.

DeFi, NFTs and newer activity

Spain's broad definition of a taxable disposal means newer on-chain activity tends to generate more taxable events than people expect, not fewer. The AEAT continues to refine its guidance, but the safe assumption is that value received is income and value exchanged is a disposal, and DeFi produces plenty of both.

• DeFi, liquidity provision, lending, yield and reward tokens can create a stream of receipts and disposals, each needing a euro value. Our DeFi tax guide covers the recurring patterns.
• Staking rewards, generally captured as income valued in euros when received, then carrying their own cost basis for later FIFO disposal. See the staking guide.
• NFTs, buying and selling NFTs are disposals within the same framework, though valuation can be harder than for fungible tokens. Our NFT tax guide walks through it.
• Airdrops and forks, new tokens received can be an income event and set the cost basis for whatever you later do with them.

With swaps taxable and FIFO required, the volume of small DeFi events is exactly where manual spreadsheets break down. Importing the on-chain history and letting software value and order each event is far more reliable than reconstructing a year of yield by hand.

What if you've never reported your crypto

If you've traded crypto in Spain for years without reporting it, you're far from alone, and the AEAT has grown noticeably more active in this area, partly because exchange data is increasingly shared across the EU. The first move is to rebuild a complete, FIFO-ordered history across every exchange and wallet, so you can see the real taxable result for each past year rather than guessing at it. Some years may show modest gains, others larger ones, and the only way to know is to reconstruct the data.

Spain provides mechanisms to file or correct prior returns, and coming forward before being contacted is generally treated more favourably than waiting. The practical challenge is data: old exchange accounts get closed and exports vanish, so the earlier you assemble your history the more complete and defensible it will be. The specific surcharges, interest and amendment routes that apply to late or corrected filings should be confirmed with the AEAT or a qualified advisor for your circumstances.

How CryptaTax automates your Spanish crypto taxes

A Spanish crypto return asks a lot: tax every swap, apply FIFO in the right order, split income from capital gains, and keep enough data for the wealth and foreign-holdings declarations. CryptaTax is designed to handle that complexity so you file from accurate, ordered figures rather than a stressful spreadsheet.

• Connects your exchanges and wallets and builds one continuous, chronological history.
• Applies FIFO consistently, treating crypto-to-crypto swaps as the disposals Spain requires.
• Separates savings-base capital gains from general-base income such as mining and payments.
• Values staking and other receipts in euros at the moment they arrive.
• Produces year-end holding values to support the wealth-tax and foreign-holdings declarations.
• Gives you figures aligned with how Spanish gains and income are reported, ready to carry into your return.

More Spanish crypto tax questions

I only moved coins between my own wallets, is that taxable in Spain?

No, transferring crypto between wallets you control is not a disposal, provided you can show both ends belong to you. The risk is that without clear records a transfer can look like a sale, so keep evidence linking your addresses and accounts. CryptaTax recognises internal transfers when your sources are connected, so they aren't mistaken for taxable disposals.

Does the foreign-holdings declaration replace paying tax on gains?

No. The informational declaration of holdings held abroad is a separate obligation from reporting and paying tax on your gains and income. You can owe the informational filing, the income tax, and potentially wealth tax in the same year, they don't substitute for one another. Confirm the relevant thresholds and deadlines in the summary table and with the AEAT.

How is staking income different from selling crypto?

Staking rewards are generally recognised as income valued in euros when you receive them, which is a different event from later selling those coins. When you do sell, you also have a capital gain or loss measured from that received value under FIFO. So one reward token can touch your return twice, once as income, once on disposal, which is why classification matters.

Do regional rules really change what I owe?

For wealth tax and gifts in particular, yes, autonomous communities set their own thresholds and rates, so where you're resident can change the outcome for an identical portfolio. The income-tax savings bands are more uniform, but the regional layer is real and worth checking with a local advisor rather than assuming a single national figure applies to you.