Understanding Crypto Taxation in Spain for 2025
As cryptocurrency adoption grows in Spain, the Agencia Tributaria (Spanish Tax Agency) continues refining tax rules for digital assets. In 2025, crypto income remains fully taxable under Spain’s existing framework, with penalties for non-compliance reaching up to 150% of owed taxes. While no radical reforms are confirmed for 2025, the EU’s MiCA regulations and Spain’s focus on closing tax gaps mean stricter enforcement. This guide breaks down how different crypto activities are taxed, calculation methods, reporting requirements, and what might change.
Types of Crypto Income and 2025 Tax Treatment
Spain categorizes crypto earnings based on activity type. Here’s how common scenarios are taxed:
- Trading Profits: Capital gains tax applies when selling crypto for profit. Rates follow savings income brackets (19%-28% in 2024, likely similar in 2025). Losses can offset gains within the same year.
- Staking/Rewards: Crypto earned from staking, lending, or DeFi protocols is taxed as investment income at 19%-28% upon receipt, based on market value.
- Mining Income: Treated as business activity if done professionally (subject to IRPF income tax up to 47%). Casual miners report gains as miscellaneous income.
- Airdrops/Hard Forks: Taxable as ordinary income at receipt if unsolicited; valued at market price when claimed.
- Crypto Payments: Received as salary or for goods/services? Counts as standard income, taxed via IRPF scales.
How to Calculate Your Crypto Taxes in 2025
Follow these steps to determine liabilities:
- Track All Transactions: Log acquisition dates, costs, sale prices, and fees using crypto tax software or spreadsheets.
- Calculate Gains/Losses: For disposals: (Selling Price – Purchase Cost – Fees) = Taxable Gain. Use FIFO (First-In-First-Out) method by default.
- Apply Tax Rates:
- Capital gains: 19% (first €6,000), 21% (€6,001-€50,000), 23% (€50,001-€200,000), 26% (€200,001-€300,000), 28% (over €300,000)
- Ordinary income (mining, payments): Added to total income, taxed at progressive IRPF rates (19%-47%)
- Deduct Losses: Net capital losses can offset gains; excess losses carry forward 4 years.
Reporting Deadlines and Procedures for 2025
Compliance is critical to avoid penalties. Key requirements:
- Annual Income Tax (Modelo 100): Report all crypto gains/losses by June 30, 2026, for 2025 income. File electronically via the Tax Agency portal.
- Form 720 (Foreign Assets): If holding over €50,000 in crypto on non-Spanish exchanges, declare by March 31, 2026. Failure risks fines up to €5,000 per unreported item.
- Record Keeping: Maintain transaction logs for 5 years. The Tax Agency may request exchange API access or wallet histories.
Potential 2025 Regulatory Changes to Monitor
While core rules stay consistent, watch for:
- MiCA Implementation: EU-wide crypto regulations (effective 2025) may standardize reporting, easing compliance but increasing scrutiny.
- Withholding Taxes: Spain could mandate exchanges to deduct taxes at source, similar to stock brokerage rules.
- NFT Classification: Evolving guidelines may clarify if NFTs are taxed as collectibles or standard assets.
- CBDC Developments: A digital euro might influence how private crypto is treated long-term.
FAQ: Crypto Taxes in Spain 2025
Q: Do I pay tax if I hold crypto without selling?
A: No tax applies for holding. Taxation triggers only upon selling, trading, earning rewards, or spending crypto.
Q: Are crypto-to-crypto trades taxable?
A: Yes. Exchanging BTC for ETH is a disposal event. Calculate gains based on EUR value at trade execution.
Q: What if I use crypto for purchases?
A: Spending crypto is treated as a sale. You’ll owe capital gains tax on the EUR value difference between purchase and spending dates.
Q: Can I deduct crypto losses?
A: Yes, capital losses reduce taxable gains. Unused losses offset future gains for up to 4 years.
Q: Is Binance/Coinbase reporting my data to Spain?
A: Under EU rules, Spanish exchanges share user data with the Tax Agency. Foreign platforms may comply via information-sharing agreements.
Q: How does residency affect my taxes?
A: Spanish tax residents pay taxes on worldwide crypto income. Non-residents pay only on Spain-sourced earnings.
Always consult a gestor (tax advisor) specializing in crypto for personalized guidance, as rules evolve. Proactive compliance protects you from audits and penalties in Spain’s tightening regulatory landscape.
