Spanish Treasury Postpones the Definition of Crypto Tax Declaration Models Until Next Year
The Spanish treasury ministry has announced it will postpone the establishment of the complete framework for declaring taxes related to cryptocurrency assets until 2023. While the Spanish government has advanced when it comes to cryptocurrency regulation, the specifics of what will be taxed and in which way are still a mystery for traders and holders. The organization is still looking for information to control these tax statements effectively.
this decision in its Annual Tax and Customs Control Plan for 2022, surprising analysts that expected this to be executed this year due to the relevance that cryptocurrency has taken on in the country.Now, with this resolution, traders and holders of cryptocurrency will have to wait until the elaboration of these models to declare their holdings and earnings and establish how much they will have to pay.
in July, which establishes several obligations for cryptocurrency users regarding holdings outside Spain, and also for VASPs .However, even a year before this tax enforcement, the document states that the treasury is still searching for sources of information regarding cryptocurrency transactions with the objective of better controlling the statements of taxpayers.
. Lawyer Jesus Lazaro states the treasury is putting all the weight of reporting on taxpayers because the state currently has zero data regarding cryptocurrency transactions.Finally, the plan leaves new tech such as NFTs outside of its scope, new elements that have achieved significant growth last year.
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