Spain It clarifies through its Treasury that it will delay the creation of the full framework for announcing taxes on crypto assets until a year 2023.
Although advance Spanish government Regarding the organization CryptocurrencyHowever, the details of what will be taxed and in what way remains a mystery to crypto merchants and business owners. While the organization is still looking for information to effectively control this tax data.
Ministry to start drafting crypto tax requirements next year
announced Spanish Treasury About this decision in its annual plan for tax and customs control for the year 2022which surprised analysts who expected it to be implemented this year due to the importance the cryptocurrency has taken in the country.
Now, with this decision, traders and cryptocurrency holders will have to wait for these forms to be developed to declare their holdings, their earnings and decide how much they will have to pay.
The models derive from the anti-fraud law adopted in July, which establishes several obligations for cryptocurrency users with respect to properties outside Spainas well as forVirtual Asset Service Providers (VASPs).
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The search for information is still ongoing
However, even a year before the introduction of this tax, the document states that the Treasury is still searching for sources of information related to cryptocurrency transactions with the aim of better controlling taxpayer data. To this end, the above-mentioned plan states the following:
The Treasury Department will continue the tasks it started in previous years related to obtaining information from various sources related to operations carried out in virtual currencies.
In this regard, Treasury officials have set international cooperation as one of their most important goals, as well as their participation in international forums to enhance this cooperation.
However, even with this legal vacuum, the Spanish authorities have required many taxpayers to disclose and publicize their crypto-related operations for years. 2017 And 2018 And 2019 And 2020 According to local media. Lawyer saysJesus Lazaro:“Treasury requires reporting of taxpayer operations as the state does not currently have any data related to cryptocurrency transactions.”
Finally, the plan leaves new technology as NFTs outside its scope, which are new elements that achieved significant growth last year.
Read also: “According to the law on digital transformation … Spain allows the payment of mortgages in cryptocurrency
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