The Spanish Tax Administration Agency (AEAT) is stepping up efforts to charge local holders of crypto assets. The AEAT intends to send 328,000 alerts to those that should pay cryptocurrency taxes for the 2022 tax 12 months.
According to local newspaper El Mundo reported On April 11, the variety of summonses increased by 40% over the 12 months – from 150,000 to 150,000. warnings in 2022. The tax office took the matter seriously only recently – in 2021 there have been only 15,000 of them in total.
However, such activity shouldn’t be solely focused on cryptocurrencies – for instance, greater than 660,000 notices might be sent this 12 months to those that understate their rental income, and 807,000 for overseas income.
Notices are a voluntary request for payment of tax, which ranges from 19% to 23% on profits earned from the sale of digital assets. Those who fail to pay their taxes on time might be fined an extra 26% of the quantity of unpaid funds.
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According to the National Securities Markets Commission (CNMV) in August report6.8% of the Spanish population owns crypto assets. Most of them are between 35 and 44 years old, have a university degree and earn greater than 3,000 euros a month.
Spain ranks first in Europe within the variety of crypto ATMs with 231 devices – about 15% of the full number on this a part of the world. Globally, the country ranks fourth after the United States, Canada and Australia.
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