How to Report Staking Rewards in Spain: A Complete Tax Guide

Understanding Staking Rewards and Spanish Tax Law

In Spain, staking rewards from cryptocurrencies like Ethereum, Cardano, or Solana are treated as taxable income by the Agencia Tributaria (Tax Agency). Unlike some countries that classify them as capital gains, Spain considers staking rewards as “income from movable capital” (rendimientos del capital mobiliario). This means they must be declared annually on your income tax return (IRPF), regardless of whether you’ve sold the assets. Failure to report can trigger audits, penalties, and interest charges.

Step-by-Step Guide to Reporting Staking Rewards

Follow this process to ensure compliant reporting:

1. Track All Rewards: Record the date and market value (in EUR) of every staking reward at the moment you receive it. Use reputable exchanges or tools like CoinMarketCap for historical EUR rates.
2. Calculate Total Annual Income: Sum the EUR value of all rewards accrued during the tax year (January 1 to December 31).
3. Prepare Modelo 100: Use Spain’s standard income tax form (Modelo 100). Report rewards in Box 042 under “Rendimientos del capital mobiliario”.
4. Apply Tax Rates: Staking rewards are taxed at progressive rates from 19% to 47% based on your total annual income bracket. Autonomous communities may add surcharges.
5. File Electronically: Submit Modelo 100 via the Agencia Tributaria’s website between April and June of the following year.

Calculating the Value of Your Staking Rewards

Accurate valuation is critical. Use these steps:

• Timestamp Conversion: Determine the exact EUR value at the time each reward transaction is confirmed on-chain.
• Use Official Sources: Refer to the Bank of Spain’s average EUR exchange rate for the transaction date or a recognized crypto price index.
• Document Everything: Maintain screenshots, exchange statements, and wallet histories as proof for 4 years.

Example: If you received 0.5 ETH on July 15 when 1 ETH = €2,000, report €1,000 as taxable income.

Important Deadlines and Penalties to Avoid

Key dates for 2024 reporting:

• Deadline: June 30, 2025 (for rewards earned in 2024)
• Late Penalties: 5% of unpaid tax + monthly interest (currently 4.0625% annually)
• Intentional Non-Reporting: Fines up to 150% of evaded tax and potential criminal charges for amounts over €120,000.

Tip: Use the Agencia Tributaria’s “Renta WEB” portal for error-free filing assistance.

Frequently Asked Questions (FAQ)

Q: Are staking rewards taxable in Spain?
A: Yes. All staking rewards are taxable as income at market value upon receipt, per Article 25.1 of Spain’s Personal Income Tax Law.

Q: What tax form do I use to report staking rewards?
A: Report on Modelo 100 (annual income tax return). For holdings over €50,000 abroad, also declare via Modelo 720 by March 31.

Q: How do I calculate the EUR value of rewards?
A: Use the fair market value in EUR at the exact time of reward receipt. Historical crypto price APIs or exchange data provide proof.

Q: When is the reporting deadline?
A: Annually from April 1 to June 30 for the previous tax year. For 2024 rewards, file by June 30, 2025.

Q: What if I stake through a foreign platform?
A: You still owe Spanish taxes. Platforms like Binance or Coinbase don’t automatically report to Spain—responsibility lies with the taxpayer.

Q: Can losses offset staking rewards?
A: No. Unlike capital gains, staking income cannot be reduced by crypto losses. Losses are deductible only against capital gains.