{"id":21716,"date":"2018-10-24T21:00:28","date_gmt":"2018-10-24T19:00:28","guid":{"rendered":"https:\/\/www.in-diem.com\/virtual-currencies-and-the-tax-agency-cryptocurrency-control\/"},"modified":"2026-08-12T15:22:45","modified_gmt":"2026-08-12T13:22:45","slug":"virtual-currencies-and-the-tax-agency-cryptocurrency-control","status":"publish","type":"post","link":"https:\/\/www.in-diem.com\/en\/virtual-currencies-and-the-tax-agency-cryptocurrency-control\/","title":{"rendered":"Virtual Currencies and the Tax Agency | Cryptocurrency Control"},"content":{"rendered":"
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Important:<\/strong> This article was published in 2018<\/strong> and analyzes the Preliminary Draft Law on Measures to Prevent and Combat Tax Fraud<\/strong> in relation to virtual currencies<\/strong>. The subject matter analyzed was subsequently incorporated into the legal system through Law 11\/2021, of July 9<\/strong><\/a>, and implemented through new reporting requirements regarding virtual currencies. <\/em><\/p>\n\n

Virtual Currencies and the Tax Agency. Taxation <\/strong><\/h2>\n\n

On October 23, 2018, the DRAFT BILL ON MEASURES TO PREVENT AND COMBAT TAX FRAUD<\/a> was published for the purposes of the public information procedure, directly affecting Virtual Currencies and the Tax Agency.<\/p>\n\n

In fact, among the measures contained in the aforementioned PRELIMINARY DRAFT BILL are those relating to the regulation of cryptocurrencies\u2014whether held in Spain or abroad\u2014<\/strong>for taxpayers subject to the Spanish tax authorities.<\/a><\/strong> This regulation aims to obtain information on the balances and holders of virtual currencies held in custody and establishes an obligation to provide information on cryptocurrency transactions.<\/p>\n\n

In particular, this draft bill would entail\u2014especially\u2014the following amendments:<\/p>\n\n

1. Introduction of new sections 6 and 7 in the Thirteenth Additional Provision of Law 35\/2006, of November 28, on Individual Income Tax<\/a><\/strong> and partially amending the laws on corporate income tax<\/a><\/strong>, on Nonresident Income Tax<\/a><\/strong> , and Wealth Tax<\/a><\/strong><\/p>\n\n

2. The amendment to paragraphs 1 and 2 of the EIGHTEENTH ADDITIONAL PROVISION of Law 58\/2003, of December 17, on General Taxation.<\/a><\/strong><\/p>\n\n

Objectives: Oversight of Transactions Involving Virtual Currencies and Cryptocurrencies. Taxation and Anti-Money Laundering <\/strong><\/h2>\n\n

As stated in the Explanatory Memorandum of the Draft Bill, among other measures it includes, it seeks to strengthen “tax control” over the potential taxation related to virtual currencies. To this end, two measures are essentially reinforced: <\/p>\n\n

1.- Information measures relating to: the balances held by holders of virtual currencies; as well as information about transactions (acquisition, transfer, exchange, transfer, receipts and payments).<\/p>\n\n

2.- Penalty measures<\/p>\n\n

Subjects: Exchanges, Technology Service Providers, and Taxpayers<\/strong><\/h2>\n\n

The objectives of such regulation affect:<\/p>\n\n

1.- Companies providing services related to Cryptocurrencies.<\/strong> This regulation covers<\/p>\n\n

a.- Individuals\/entities resident in Spain<\/p>\n\n

b.- Permanent Establishments in Spain<\/p>\n\n

c.- Entities resident abroad<\/p>\n\n

That primarily provide the following services:<\/p>\n\n

a.- Safekeeping of private cryptographic keys on behalf of third parties, to hold, store and transfer virtual currencies;<\/p>\n\n

b.- Exchange between virtual currencies and legal tender or between different virtual currencies, or acting as an intermediary in any way in carrying out such transactions.<\/p>\n\n

2.- Taxpayers<\/strong> (tax obligors)<\/p>\n\n

In summary, we should bear in mind:<\/p>\n\n