Tax consulting methodology
The taxation of each transaction with crypto-assets will depend on the specific type of crypto-asset involved, the type of income it generates, as well as its holder or owner.
Tax identification
Depending on the legal nature of the taxpayer, whether an individual or a company, a specific type of tax will be applicable. (Income Tax for residents and non-residents, Corporation Tax, etc.)
01.
Identification and classification of crypto-assets
We examine the type of crypto-asset.
02.
Class of income produced
With the crypto-asset identified, we will examine the type of income involved.
03.
Tax calculation and filing
Once the previous stages have been completed, we proceed to calculate, settle, and file the corresponding return.
04.
Objective
Minimize the tax cost in complying with your tax obligations
Use cases in tax advice transactions with crypto-assets
How can we help you with the declaration of your transactions with crypto-assets?
The Tax Agency’s criteria on the legal nature of crypto-assets, as well as the amount of information associated with transactions involving them, and the dispersion of this information across each of the multiple platforms where they are exchanged, make it no easy task to transfer accurate and correct information to tax returns, which is why specialized advice is necessary.
In the office, we have the professionals and technological tools to carry out this task.
Support service for consultancies
If you have an office or consultancy that is dedicated to tax advice, and your clients have carried out transactions with crypto-assets during the year, which must be included in the corresponding IRPF (Individual Income Tax) or Corporation Tax, Wealth Tax, etc. return, but you are not used to this type of operation, which is often very complex due to the amount of information to handle, do not worry, we can help you.
Get in touch with us, and with the information you provide, we will prepare a detailed report with the necessary data so that you can prepare the return in question.
Income tax (IRPF)
If you have crypto-assets, and you have carried out transactions with them throughout the year, you are obliged to declare in your personal tax (IRPF) the income (gains or losses) that you have had in the year.
We can help you with the preparation and filing of your income tax return. Request an appointment and we will tell you more.
Sale of NFTs
The transfer of an NFT produces tax effects, and these may vary depending on whether you dedicate yourself to minting them, and then selling them, that is, whether it is an economic activity for you, or not.
If you have doubts about the taxation in IRPF or VAT, of said transmission, consult us and we will advise you.
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Personalized approach and regulatory compliance
As these are completely new types of assets, which are born from disruptive technologies, they sometimes do not have a simple fit with current regulations, which produces frictions that can have unwanted results for the taxpayer.
In addition to the above, the great variety of crypto-assets, and their different nature, means that special care must be taken in their declaration, seeing each case specifically, and having specialized advice in this matter.
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Do you want to know more about taxation in transactions with crypto-assets?
Frequently Asked Questions
Do I have to pay any tax for buying cryptocurrencies?
No. The purchase of cryptocurrencies, in itself, is not subject to taxation. However, when you sell them, you may have to pay taxes if you obtain any profit from it.
What if what I do is exchange one cryptocurrency for another?
In this case, yes. The exchange of cryptocurrencies is a transfer of assets, so you must declare the gains or losses obtained in your return.
Is the income I obtain from staking my cryptocurrencies taxed?
Yes. The income or rewards that you obtain from staking are like any other capital income, so you must also include them in your return.
¿Qué sucede si no declaro las ganancias o pérdidas derivadas de la transmisión de mis criptomonedas?
Not declaring them can lead to sanctions from the tax authorities. Keep in mind that the tax agency has information about it provided by the custodians.
Resources on legal and tax advice on technology and digital assets
