It is necessary to declare cryptocurrency operations in the Income Tax and in which box they are taxed by the Tax Agency?
The rise of these virtual assets and the lack of specific regulation complicates the Tax Agency's actions in this matter.
Cryptocurrencies are becoming an important economic asset worldwide. By the end of 2020, there were more than 6,500 cryptocurrencies in circulation, including the European Central Bank, with the development of the digital euro, in which Spain participates. However, the rise of this virtual currency had not yet been translated into the creation of specific legislation in Spain... until now.
In 2021, the Tax Agency published the Annual Plan for Tax and Customs Control, where "in light of the rise of virtual asset markets, particularly that of cryptocurrencies" where "fiscal risks are generated," the Plan indicates that "specific actions are required to obtain information that facilitates voluntary compliance with tax obligations arising from the operations carried out."#GoogleStudyOnCryptoSecurityChallenges $ETH #Squar2earn #Write2Earn
The rise of these virtual assets and the lack of specific regulation complicates the Tax Agency's actions in this matter.
Cryptocurrencies are becoming an important economic asset worldwide. By the end of 2020, there were more than 6,500 cryptocurrencies in circulation, including the European Central Bank, with the development of the digital euro, in which Spain participates. However, the rise of this virtual currency had not yet been translated into the creation of specific legislation in Spain... until now.
In 2021, the Tax Agency published the Annual Plan for Tax and Customs Control, where "in light of the rise of virtual asset markets, particularly that of cryptocurrencies" where "fiscal risks are generated," the Plan indicates that "specific actions are required to obtain information that facilitates voluntary compliance with tax obligations arising from the operations carried out."#GoogleStudyOnCryptoSecurityChallenges $ETH #Squar2earn #Write2Earn