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How are cryptocurrencies included in the Income Tax Return?<\/h2>\n
Cryptocurrencies can be reflected in various ways in the Personal Income Tax, depending on their use. Therefore, for Personal Income Tax (IRPF), we must distinguish between:<\/p>\n
\n- Gain or loss due to transmission<\/strong>. This section includes the cases in which cryptocurrencies are purchased or exchanged through digital platforms.<\/li>\n
- Return on capital<\/strong>. This section include the cases in which we deposit cryptocurrencies on the platforms and generate interest.<\/li>\n
- Gains and losses without transmission<\/strong>. This case occurs in the case of referrals, for example, when a person recommends another to use specific software and receives a commission in cryptocurrencies.<\/li>\n
- Economic activity<\/strong>. This assumption refers to those cases in which cryptocurrency mining or cryptocurrency trading is carried out for third parties.<\/li>\n<\/ul>\n<\/div>
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Taxation of profits and losses and income from capital in Personal Income Tax<\/h2>\n
Both gains and losses from transmission and capital gains are taxed in the special part of the Personal Income Tax at the following rates:<\/p>\n
\n- 19% from 0 to 6,000 euros.<\/li>\n
- 21% from 6,001 euros to 44,000 euros.<\/li>\n
- 23% from 44,001 to 200,000 euros.<\/li>\n
- 26% for amounts greater than 200,000 euros (this section is a novelty for this year’s income).<\/li>\n<\/ul>\n
For their part, profits and losses without transmission and economic activity are taxed in the general part of personal income tax, and rates ranging from 18% to 47% will be applied to them.<\/p>\n<\/div>
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Income Statement box for cryptocurrencies<\/h2>\n
One of the main novelties of this year’s Personal Income Tax form<\/strong> is that a new section appears to include the balances of virtual currencies that, until now, were included in a generic section of other goods and rights of economic content. This novelty is due to the fact that more and more people invest in cryptocurrencies, so the Tax Agency has decided to modify the declaration form so that the taxpayer can easily include cryptocurrencies.<\/p>\n<\/div>