Introduction
Crypto tax in Spain worries many residents. Yet it follows clear rules: your crypto gains are treated as "savings income" (rendimientos del ahorro) and reported in your income tax return (IRPF). One major difference from France awaits you: here, swapping one crypto for another is already a taxable event. This module explains everything simply, so you stay compliant and calm. Important: this content is educational, not personalized tax advice — consult an asesor fiscal for your situation.
The principle: the savings base and the progressive scale
In Spain, gains realized on crypto are taxed as "rendimientos del ahorro": they join the savings base (base del ahorro) of your income tax. The rate isn't a single flat number: it depends on your TOTAL annual gains (not just crypto), and it applies in brackets.
The progressive scale is: from €0 to €6,000 of gains, 19%; from €6,000 to €50,000, 21%; from €50,000 to €200,000, 23%; from €200,000 to €300,000, 27%; above €300,000, 28%. Each bracket is taxed only at its own rate — you don't suddenly jump from 19% to 28%.
Spain taxes crypto at a single flat rate, like a French flat tax.
Actually : No. The rate depends on your total annual gains and applies in brackets: 19% on the first €6,000, then 21%, 23%, 27% and 28% above €300,000. Small gains = low rate.
The trap that changes everything: crypto swaps are taxable
This is THE big difference from France. In Spain, swapping one crypto for another (for example BTC for ETH) is a "permuta": a taxable event. The gain is computed in euros at the exact moment of the swap, as if you had sold then bought back.
In practice, three operations trigger tax: selling crypto for euros, paying for a good or service with crypto, and swapping one crypto for another. Only simply holding your crypto (HODL) triggers nothing: an unrealized gain isn't taxed.
- Selling crypto → euros: taxable.
- Paying for a good/service in crypto: taxable.
- Swapping crypto → crypto (permuta): taxable (≠ France).
- Holding crypto (HODL): not taxable.
Keep your history
Because every swap counts, your transaction history (and the euro price at each operation) becomes essential to compute your gains. Your platform's export helps you reconstruct all of it at filing time.
How to file: Modelo 100 and the savings base
Each year, you report your crypto gains in your income tax return (IRPF), through Modelo 100. The gains join the savings base (base del ahorro) and are taxed according to the 19% to 28% scale seen above.
Good news for a bad year: losses can offset gains within the savings base, under the standard rules. So you're only taxed on your net gain. For the details of carrying forward and offsetting, an asesor fiscal can guide you.
- Modelo 100: annual IRPF return.
- Crypto gains join the savings base.
- Bracket scale from 19% to 28%.
- Losses can offset gains (standard rules).
Tax residency and reporting crypto held abroad
Spanish rules only apply if you are a Spanish tax resident. The main test is the 183-day rule: if you spend more than 183 days a year in the country, you are in principle a tax resident and you report your gains to the Agencia Tributaria.
Beyond the tax itself, there are informational reporting obligations for crypto held abroad: Modelo 721 (dedicated to crypto-assets held outside Spain, since fiscal year 2023) and Modelo 720 for foreign assets, with a reporting obligation above €50,000. Your platform may be regulated abroad: as a Spanish resident, it's up to you to declare your own gains to the Agencia Tributaria.
Since your platform isn't Spanish, I have nothing to declare in Spain.
Actually : False. If you're a Spanish tax resident, you declare your gains to the Agencia Tributaria whatever service you use. Reporting obligations (Modelo 721, Modelo 720) may also apply for crypto held abroad above €50,000.
What you should remember
- 01Crypto gains join the savings base, taxed in brackets from 19% to 28%.
- 02Swapping crypto for crypto IS taxable in Spain (a permuta) — the big difference from France.
- 03Reported in the IRPF via Modelo 100; losses can offset gains.
- 04Crypto held abroad: Modelo 721 (since 2023) and Modelo 720 above €50,000.
Simplified calculation
- From €0 to €6,000 of gains: 19%.
- From €6,000 to €50,000: 21%.
- From €50,000 to €200,000: 23%.
- From €200,000 to €300,000: 27%.
- Above €300,000: 28%.
Mandatory declaration
Form 720 (foreign asset reporting) requires you to declare crypto held outside Spain above €50,000.
Modelo 721
Dedicated form for crypto held abroad since 2023.
Modelo 100
The personal income tax return includes crypto gains in the savings base.
Check with the local tax authority. This page stays educational and does not replace personalised advice.
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