Crypto Tax Rate in Spain: Capital Gains Guide for 2024

As cryptocurrency adoption grows in Spain, understanding capital gains tax obligations is crucial for investors. Whether you’re trading Bitcoin, Ethereum, or altcoins, Spain’s tax authority (Agencia Tributaria) treats crypto profits similarly to traditional assets. This guide breaks down Spain’s crypto tax rates, calculation methods, reporting requirements, and legal strategies to optimize your tax position.

## How Crypto Capital Gains Tax Works in Spain

Spanish tax law classifies cryptocurrency as a “movable asset,” meaning profits from disposal trigger capital gains tax. Taxable events include:

* Selling crypto for fiat currency (EUR)
* Exchanging one cryptocurrency for another
* Using crypto to purchase goods/services
* Transferring crypto to non-resident exchanges

Unlike some countries, Spain doesn’t distinguish between short-term and long-term holdings – all gains face the same progressive rates.

## 2024 Crypto Capital Gains Tax Rates in Spain

Spain uses a dual tax system combining national and regional rates. Your total taxable income determines the applicable bracket:

| Taxable Income Bracket (€) | National Rate | Regional Rate Range | **Combined Rate Range** |
|—————————–|—————|———————|————————-|
| 0 – 6,000 | 19% | 0% – 12% | 19% – 31% |
| 6,000 – 50,000 | 21% | 0% – 12% | 21% – 33% |
| 50,000 – 200,000 | 23% | 0% – 12% | 23% – 35% |
| Over 200,000 | 28% | 0% – 12% | 28% – 40% |

*Regional rates vary: Madrid charges 0% while Catalonia applies 12%.

## Calculating Your Crypto Tax Liability

Follow this formula to determine capital gains:

**Capital Gain = Sale Price – (Purchase Price + Acquisition Costs)**

Key calculation steps:

1. **Determine acquisition cost**: Include purchase price, transaction fees, and mining expenses
2. **Identify disposal value**: Market value in EUR at transaction time
3. **Apply FIFO principle**: Spain mandates First-In-First-Out accounting for crypto sales
4. **Offset losses**: Capital losses reduce taxable gains (carry forward unused losses 4 years)

*Example*: Buying 1 BTC for €20,000 (€200 fees) and selling for €30,000:
Gain = €30,000 – (€20,000 + €200) = €9,800 taxable

## Reporting Crypto Taxes in Spain

File gains annually via Form 100 (Declaración de la Renta) between April-June. Required documentation:

* Transaction history from exchanges
* Wallet addresses
* Calculation worksheets
* Proof of acquisition costs

Non-residents pay 19% flat rate via Form 210. Penalties for non-compliance range from 50%-150% of owed tax plus interest.

## 5 Legal Tax Reduction Strategies

1. **Loss harvesting**: Sell underperforming assets to offset gains
2. **Residency optimization**: Establish tax residence in low-rate regions like Madrid
3. **Holding period**: While no long-term discount, holding avoids frequent taxable events
4. **Gift transfers**: Tax-free between spouses or €100,000 annual exemption for children
5. **SME investment deduction**: Reinvest gains into Spanish startups for 30% tax relief

## Crypto Tax FAQ: Spain

**Q: Is crypto-to-crypto trading taxable in Spain?**
A: Yes. Every exchange between cryptocurrencies is a taxable event based on EUR market value at transaction time.

**Q: What if I transfer crypto between my own wallets?**
A: Transfers between personal wallets aren’t taxable if both addresses are verifiably yours.

**Q: How does Spain treat DeFi staking rewards?**
A: Staking rewards count as miscellaneous income taxed at 19%-47% separately from capital gains.

**Q: Are NFTs subject to capital gains tax?**
A: Yes. NFT sales follow the same capital gains rules as fungible tokens.

**Q: Can I deduct crypto trading fees?**
A: Yes. Acquisition and disposal fees directly reduce taxable gains.

**Q: Do I pay tax on unrealized crypto gains?**
A: No. Tax applies only upon disposal (sale, exchange, or spending).

Proactive tax planning is essential for Spanish crypto investors. Consult a gestor or tax advisor specializing in digital assets to ensure compliance and optimize your position. Remember: The Agencia Tributaria receives exchange data through international agreements like CRS, making accurate reporting non-negotiable.