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● UPDATED 18 MAY 6 MODELO 100, MODELO 720, MODELO 721, ANEXO G

Best crypto tax software in Spain.

Spanish crypto filers need progressive capital gains tax (19-28%), the new Modelo 721 crypto disclosure (mandatory since 2024 for 2023 holdings), and Modelo 720 for foreign assets above €50,000. The right software handles all three plus the Modelo 100 (IRPF) gains export.

Jump to ranking → Read the Spain tax primer →
§ 00 WHY SPAIN IS HARD

What makes crypto tax filing tricky in Spain.

Spain is the first major EU economy with a dedicated crypto-only disclosure form: Modelo 721, mandatory since 2024 for the 2023 tax year. Where most countries fold crypto into existing foreign-asset forms, Spain requires a separate annual declaration of every crypto holding on a non-Spanish platform — with detailed breakdowns by exchange, wallet, and asset type. On top of Modelo 721, the long-standing Modelo 720 covers any foreign assets (including crypto) over €50,000 aggregate. Capital gains themselves use a progressive scale (19% on the first €6,000, up to 28% on gains >€300,000), with FIFO mandatory. The AEAT has been aggressive on data-matching — sending compliance letters to over 200,000 crypto holders since 2022 — so under-reporting risk is higher in Spain than in most EU peers. Spanish-built TaxDown and international tools (Koinly, Summ) all support Modelo 721; smaller US-only tools do not.

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Reviewed by Stephan Kulik · Last updated: · How we rank
§ 01 BEST FOR SPAIN

Ranked for Spain filers.

01 Koinly 800+ exchanges, 100+ countries — the default for most filers 8.6 /10 Review → Try Koinly Free
02 Summ 1,500+ DeFi protocols — the on-chain tax engine (rebranded from Crypto Tax Calculator, October 2025) 8.3 /10 Review → Try Summ Free
03 CoinLedger Free import + preview — try before you buy 8.0 /10 Review → Try CoinLedger Free
04 CoinTracker TurboTax + H&R Block integration — the default for US filers 7.9 /10 Review → Try CoinTracker Free
05 CoinTracking Power-user tracker — 12 cost-basis methods, 25+ countries 7.5 /10 Review → Try CoinTracking Free
06 Blockpit Glassnode-backed EU specialist — strongest German + Austrian filing 7.5 /10 Review → Try Blockpit Free
§ 02 FAQ

Spain crypto tax questions.

What crypto tax forms do Spanish filers need? +
Spanish crypto investors file Modelo 100 (IRPF annual return) with Anexo G (capital gains) for taxable disposals, Modelo 721 (since 2024) for any crypto held on foreign platforms regardless of value, and Modelo 720 if total foreign assets exceed €50,000. Koinly, Summ, and Spanish-built TaxDown all support Modelo 721.
How is crypto taxed in Spain? +
Crypto gains are taxed on a progressive scale: 19% on gains €0-€6,000, 21% on €6,001-€50,000, 23% on €50,001-€200,000, 27% on €200,001-€300,000, 28% on gains over €300,000. FIFO is mandatory. Each disposal (crypto-to-crypto, crypto-to-fiat) is a taxable event.
What is Modelo 721 and who has to file it? +
Modelo 721 is Spain's crypto-specific foreign-holdings declaration, mandatory since the 2023 tax year (filed in 2024). Every Spanish tax resident with crypto on a non-Spanish platform must file annually with per-asset and per-exchange breakdowns, regardless of value. Penalties for non-disclosure start at €5,000 per omitted item.
When are Spanish crypto taxes due? +
Modelo 100 (IRPF) is typically due 30 June following the end of the tax year. Modelo 720 and Modelo 721 are due 31 March. Submitting electronically via Sede Electrónica AEAT extends to early July for those who file via direct debit.
Which crypto tax software is best for Spanish filers? +
TaxDown (Spanish-built) handles the full Modelo 100 + Modelo 721 + Modelo 720 workflow with native AEAT integrations. Koinly and Summ both added Modelo 721 support in 2024 and are strong choices for filers with multi-country exposure. Avoid US-only tools — they don't generate Spanish forms.
§ 03 REGULATORY LADDER

The Spain rules that drive software choice.

  1. Modelo 721 — crypto-specific foreign-holdings declaration

    Effective 2024

    Annual declaration of every crypto holding on a non-Spanish platform: per-asset balances, per-exchange breakdown, total value at year-end. Mandatory since 2024 for the 2023 tax year. Penalties for non-disclosure start at €5,000 per omitted item.

    What this means for your software: Tax software must produce a Modelo 721-formatted export with per-exchange, per-asset breakdowns. Koinly and Summ added Modelo 721 support in early 2024; TaxDown is the Spanish-built specialist.

  2. Modelo 720 — foreign assets >€50,000 disclosure

    Effective 2013

    Original foreign-asset disclosure (predates crypto rules). Crypto held on foreign exchanges counts toward the €50,000 aggregate threshold if combined with other foreign assets (bank accounts, securities, real estate). Penalties were reduced after ECJ ruling but remain meaningful (~3% of undeclared value, capped).

    What this means for your software: Software needs to flag which holdings count toward Modelo 720 in addition to Modelo 721. Many filers need both forms — Modelo 721 catches all crypto regardless of value; Modelo 720 catches large aggregate exposure.

  3. Progressive capital gains scale (19-28%)

    Effective 2023

    Crypto gains are taxed on the savings-income progressive scale: 19% on gains €0-€6,000, 21% on €6,001-€50,000, 23% on €50,001-€200,000, 27% on €200,001-€300,000, 28% on >€300,000. FIFO is the prescribed cost-basis method.

    What this means for your software: Software must apply FIFO and produce per-disposal gain calculations that feed the Modelo 100 annual return. Most international tools handle this correctly; manually checking the FIFO order on cross-exchange transfers is the common error source.

  4. AEAT data-matching enforcement

    Effective 2022

    Tax authority began receiving exchange data from Spanish-licensed CASPs (Bit2Me, Bitnovo). Since 2022, AEAT has sent over 200,000 compliance letters to suspected unreported crypto holders. DAC8 (2026) will extend this to EU-licensed exchanges.

    What this means for your software: Spain is one of the higher-enforcement EU jurisdictions. Picking software whose export exactly matches AEAT's expected format — and that retains an audit trail of source transactions — matters more here than in lighter-enforcement countries.

§ 04 RECENT EVENTS

What's changed for Spain crypto filers.

  1. First Modelo 721 filing deadline

    Spanish crypto holders filed the inaugural Modelo 721 by 31 March 2024, covering 2023 foreign crypto holdings. AEAT reported high non-compliance rates and began sending warning letters to non-filers in Q2 2024.

    Source (opens in new tab)

  2. Modelo 721 obligation enacted

    Royal Decree 249/2023 introduced Modelo 721 as a standalone crypto disclosure form, separate from Modelo 720. Took effect for the 2023 tax year, filed in Q1 2024.

    Source (opens in new tab)

  3. ECJ overturns Modelo 720 penalty regime

    European Court of Justice ruled Spain's pre-2022 Modelo 720 penalties (up to 150% of undeclared value) disproportionate. Spain reduced penalties; obligation to file remains, but the financial risk dropped substantially.

    Source (opens in new tab)
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