How to File Crypto Tax in Spain

How to File Crypto Tax in Spain (2026 Guide)

Filing crypto tax in Spain in 2026 requires reporting all taxable crypto transactions, including disposals, income, and foreign holdings, in line with Spanish tax law and the new DAC8-aligned reporting framework.

Spain treats most crypto gains as savings income, subject to progressive tax rates, while crypto-derived income is taxed under general income tax rules. Additional reporting obligations apply for Spanish residents holding crypto abroad, including Modelo 721.

This guide walks you through the step-by-step filing process, key forms, deadlines, common mistakes to avoid, and how Kryptos simplifies crypto tax filing in Spain.

How Crypto Is Taxed and Reported in Spain (2026)

1. Savings Income Tax on Capital Gains

• Profits from selling or disposing of crypto are taxed as savings income.
• Progressive tax rates apply to net capital gains:Up to €6,000 – 19%
  €6,001 – €50,000 – 21%
  €50,001 – €200,000 – 23%
  €200,001 – €300,000 – 27%
  Over €300,000 – 28%
  • Up to €6,000 – 19%
    
  • €6,001 – €50,000 – 21%
    
  • €50,001 – €200,000 – 23%
    
  • €200,001 – €300,000 – 27%
    
  • Over €300,000 – 28%

2. General Income Tax on Crypto Income

• Crypto received as income is taxed under general income tax (IRPF).
• This includes:Staking rewardsMining incomeAirdropsReferral rewardsSalaries or payments in crypto
  • Staking rewards
  • Mining income
  • Airdrops
  • Referral rewards
  • Salaries or payments in crypto

Income tax rates can exceed 40%, depending on total income and autonomous community rules.

3. Foreign Account Reporting (Modelo 721)

• Spanish residents must file Modelo 721 if the total value of crypto held abroad exceeds €50,000 on December 31.
• Filing deadline: January 1 to March 31 of the following year.
• Under DAC8, exchanges and platforms increasingly share transaction data with Spanish tax authorities.

4. Wealth Tax Considerations

• Crypto holdings count toward your net wealth.
• Wealth tax may apply depending on regional thresholds and exemptions, which vary by autonomous community.

Step-by-Step Filing Instructions

Step 1: Collect All Transaction Records

Compile all crypto activity for the Spanish tax year (calendar year):

• Sell, swap, and conversion transactions
• Income events (staking, mining, rewards)
• Wallet addresses and exchange records
• Dates, prices in EUR, and transaction fees

Step 2: Calculate Capital Gains and Losses

For each disposal:

• Gain = Proceeds − Cost Basis − Fees
• Spain requires the FIFO (First-In, First-Out) method unless specific identification is documented.
• Calculate and aggregate net gains and losses by date.

Step 3: Record Crypto Income Events

Document all crypto received as income:

• Staking rewards
• Mining rewards
• Airdrops or referral bonuses
• Crypto received as payment

Convert the fair market value to EUR on the date received and include it in general income tax.

Step 4: Convert All Values to Euros (EUR)

All crypto transactions must be reported in EUR:

• Use reliable daily market exchange rates
• Convert both acquisition and disposal values

Accurate currency conversion is essential to avoid discrepancies.

Step 5: Complete the Spanish Tax Return (Modelo 100)

1. Declare Savings Income

• Use the Savings / Capital Gains (Ahorros) section of Modelo 100
• Include all crypto gains net of losses

2. Declare General Income

• Report crypto-related income (staking, mining, rewards)

3. Attach Supporting Schedules

• Capital gains and losses detail sheets
• Income breakdown schedules

Step 6: File Foreign Asset Disclosure (Modelo 721)

You must file Modelo 721 if:

• At any point during the year, your foreign crypto holdings exceed €50,000

Filing window:

• January 1 – March 31 following the tax year

Failure to file can result in significant penalties.

Step 7: Submit Before Key Deadlines

• Modelo 100 (Annual tax return): Typically due by June 30, 2026 (for 2025 income)
• Modelo 721: Due by March 31
• Always verify deadlines for your autonomous community

Recordkeeping and Supporting Documentation

Spanish law requires records to be kept for at least 5 years:

• Wallet and exchange transaction histories
• Cost basis documentation
• EUR conversion price sources
• Records of income events
• Evidence of foreign holdings (if filing Modelo 721)

Good documentation is critical for audits and DAC8 cross-checks.

Common Mistakes to Avoid

1. Failing to report foreign crypto holdings (Modelo 721)
2. Misclassifying income as capital gains (or vice versa)
3. Ignoring transaction fees in cost basis calculations
4. Using incorrect EUR conversion rates
5. Missing autonomous community deadlines
6. Ignoring DAC8 data mismatches
7. Not declaring small or frequent gains

Avoiding these mistakes significantly reduces audit risk.

How Kryptos Helps You File Crypto Tax in Spain

Kryptos is built to simplify Spanish crypto tax compliance:

• Automatic transaction imports from wallets and exchanges
• Accurate gain and loss calculations using FIFO or custom methods
• Correct classification of income events (staking, mining, rewards)
• EUR conversion using correct historical rates
• Modelo 100–ready capital gains and income summaries
• Foreign holding monitoring for Modelo 721 thresholds
• Audit-ready documentation aligned with DAC8 reporting
• Exportable reports for accountants and tax professionals

With Kryptos, you avoid manual spreadsheets and file with confidence.

Frequently Asked Questions

1. Do I need to file crypto taxes if I made no gains?
Yes. Income events and foreign holdings must still be reported if thresholds apply.

2. What is Modelo 721?
It is a foreign asset disclosure form required if crypto held abroad exceeds €50,000.

3. Are staking rewards taxable in Spain?
Yes. They are taxed as general income.

4. Can losses offset gains?
Yes. Realised losses can offset gains in the same tax year.

5. Do I need to convert all transactions to euros?
Yes. All crypto values must be reported in EUR at the transaction date.

6. How does DAC8 affect my filing?
DAC8 increases data sharing between exchanges and tax authorities, making accurate reporting essential.

7. Can Kryptos help with Modelo 721?
Yes. Kryptos tracks foreign holdings and prepares the required reporting summaries.

Conclusion

Filing crypto tax in Spain in 2026 requires:

• Full tracking of all crypto activity
• Accurate calculation of capital gains and income
• Correct EUR conversions
• Compliance with Modelo 100, Modelo 721, and wealth tax rules
• Awareness of DAC8 transparency requirements

By using Kryptos, you can automate data imports, calculate taxes accurately, monitor reporting thresholds, generate ready-to-file summaries, and maintain audit-ready documentation—ensuring your Spanish crypto tax filing is compliant, complete, and stress-free.

About the author

Payam Masood

Head of Content and Social Media - Kryptos