Taxes · 🇪🇸 Spain
Crypto and tokenized asset taxes in Spain
Crypto gains, including crypto-to-crypto swaps, are taxed in the IRPF savings base at 19% to 30%, using FIFO. Staking and DeFi yield count as savings-base capital income.
Also in: es
Crypto
Gains
19%–30% savings-base scale (19, 21, 23, 27%; 30% above EUR 300,000 since 2025)
Losses
Capital losses offset savings-base gains; excess can offset up to 25% of savings-base capital income and be carried forward 4 years (general IRPF rule).
Also
Swapping one crypto for another is a taxable barter (permuta). FIFO applies to homogeneous coins; directly related fees are deductible. Wealth tax and the solidarity tax on large fortunes may apply above regional thresholds.
Income and tokenized assets
Staking, lending, yield
Staking rewards are savings-base capital income (DGT ruling V1766-22), and returns from liquidity pools and yield platforms are also capital income (V0648-24). Airdrops are taxed as gains on receipt at market value. Values received become the cost basis for a later sale.
Tokenized stocks, bonds, funds
No specific guidance found on security tokens or tokenized stocks/ETFs/fund units. Under general IRPF rules a token that is legally a share, bond or fund unit would follow that instrument's rules (savings base; dividends and coupons as capital income), but this has not been confirmed by a DGT ruling found in this research.
Filing
Tax year
Calendar year; IRPF return (Modelo 100) filed April – 30 June of the following year
Reporting
Declare gains and income in Modelo 100. Modelo 721 is required if crypto held with foreign custodians exceeds EUR 50,000 at 31 December. Spanish providers report balances (Modelo 172) and transactions (Modelo 173); a draft order (March 2026) would replace 173 with a new Modelo 175 for DAC8 from tax year 2026.
Tax authority
Watch out
- Every swap between coins, including into stablecoins, is a taxable event.
- Losses from a platform that fails are not savings-base losses until special timing rules are met.
- Modelo 721 is separate from DAC8 platform reporting; both can apply.
- Wealth tax rules differ by region.
Sources
- AEAT – Manual IRPF 2025, virtual currencies · sede.agenciatributaria.gob.es
- Cuatrecasas – savings rate increase 2025 · cuatrecasas.com
- Finreg360 – DGT on staking (V1766-22) · finreg360.com
- Cuatrecasas – DGT on DeFi · cuatrecasas.com
- AEAT – Modelo 172 · sede.agenciatributaria.gob.es
- AEAT – FAQ Modelos 172/173 · sede.agenciatributaria.gob.es
Not confirmed
- Exact bracket thresholds between 19% and 27% (sources differ on EUR 44,000 vs 50,000 for the 21% band; state + regional scale).
- Draft replacing Modelo 173 with Modelo 175 for DAC8 — confirm final order.
- No DGT ruling found on tokenized securities or tokenized gold.
- Existing summary (29 Oct) matches; no correction needed.
Researched 2026-11-01 for private individuals resident in Spain. Information, not tax advice — rules change; check the tax authority before you file.