Crypto Taxes Spain

IRPF savings rates (19-28%), Modelo 721 for foreign holdings over €50k.

Tax year 2025 · filing year 2026

Reviewed by Stephan Kulik · Last updated: 2026-04-21 · How we rank

Short answer

Spain taxes crypto gains as savings income under IRPF: 19% up to €6k, scaling to 28% above €300k. No short-term/long-term distinction. If you hold crypto at foreign exchanges and total value exceeds €50k at any point in the tax year, you must file Modelo 721 — penalties for non-filing up to 150% of undeclared amount. Spanish-domiciled exchanges report you via Modelo 172/173. Not tax advice — consult an asesor fiscal.

The Spanish regime

Spain treats cryptocurrency as property for tax purposes. Disposals by individuals are taxed as "ganancias patrimoniales" (patrimonial gains) in the savings-income base of IRPF. Unlike many jurisdictions, Spain does not distinguish short-term from long-term — the rate depends on total savings-income for the year.

Savings-income IRPF rates (2024, verify current)

Up to €6,000: 19%
€6,000 to €50,000: 21%
€50,000 to €200,000: 23%
€200,000 to €300,000: 27%
Above €300,000: 28%

These are aggregated with interest, dividends, and other savings income. If your savings base already reaches a higher bracket from other sources, crypto gains stack on top.

Modelo 721: mandatory foreign-crypto declaration

Effective since 2023, Spanish tax residents holding digital assets at foreign custodians must file Modelo 721 if the aggregate value held abroad exceeds €50,000 at any point during the tax year. Deadline: March 1 to March 31 following the tax year (i.e., 2025 holdings declared by March 31, 2026).

Penalties for non-compliance:

Up to 150% of the undeclared value treated as unjustified gain
Base fine + per-data-point fines
Extended prescription period (4+4 years)

Spain has among the strictest foreign-asset reporting regimes globally.

Modelo 172 and 173

Spanish-domiciled crypto-exchanges (Bit2Me, Bitpanda Spain, and others with Spanish CASP or MiCA registration) are obligated to file:

Modelo 172: customer balances held by the exchange
Modelo 173: transaction information

As a user, you don\'t file these — but the data feeds directly to the Agencia Tributaria and is cross-referenced with your IRPF declaration.

How gains are calculated

Spain uses FIFO for cost-basis calculation. Each disposal: gain = sale proceeds minus FIFO-cost basis. For aggregate calculation across multiple disposals in a year, use crypto-tax tools with Spanish FIFO support (TokenTax, CoinTracking, Koinly all support).

Staking, lending, airdrops

Staking rewards: capital mobiliario income at FMV on receipt. Savings-income rate.
Lending interest (Nexo, Crypto.com Earn): capital mobiliario income at receipt.
Airdrops: treated as gifts/windfall if received passively (not always taxable at receipt); as savings income if earned via activity.
Mining: commercial activity if organized; self-employment income.

Declaration workflow

Export transaction history from all exchanges and wallets
Calculate gains using Spanish FIFO via a crypto-tax tool
Report gains in IRPF (Modelo 100)
If foreign holdings exceeded €50,000 at any point in the year: file Modelo 721 by March 31
Keep supporting records (exchange exports, wallet addresses, valuation sources) for at least 4 years

Where to hold crypto from Spain

Holding at Spanish-domiciled exchanges (Bit2Me, Bitpanda Spain) simplifies reporting — the exchange reports for you via Modelo 172/173 and foreign-asset thresholds don\'t apply. If you use foreign exchanges (Coinbase, Binance, Kraken), budget time for Modelo 721 compliance. See best crypto banks in Spain, MiCA-licensed crypto banks.

Disclaimer

This page is general information, not tax advice. Spanish tax law and Agencia Tributaria practice evolve. Consult an asesor fiscal familiar with crypto. See terms.

Frequently asked questions

How is crypto taxed in Spain? +

In Spain, crypto disposal gains are taxed as "rendimientos del ahorro" (savings income) under IRPF at progressive rates: 19% up to €6,000, 21% from €6,000 to €50,000, 23% from €50,000 to €200,000, 27% from €200,000 to €300,000, 28% above €300,000 (as of 2024, verify current). Short-term vs long-term distinction does NOT exist in Spain — the rate is based on total savings-income for the year regardless of holding period.

What is Modelo 721? +

Modelo 721 is an informative declaration for Spanish tax residents holding crypto in foreign custodians (non-Spanish exchanges, foreign wallets). It is obligatory if the total value held abroad exceeds €50,000 at any point during the tax year. Filing deadline: typically March 1 to March 31 following the tax year. Non-filing or inaccurate filing carries heavy penalties — up to 150% of the undeclared value plus fines per missing data point.

What is Modelo 172 and 173? +

Modelo 172 and 173 are reporting obligations on Spanish-domiciled crypto-exchanges themselves — they must report customer balances and transaction activity to the Agencia Tributaria. As a user, you don't file these directly; exchanges file them about you. The data shows up in the Agencia's records and is cross-referenced against your declaration. Platforms obligated include Bit2Me, Bitpanda (via Spanish branch), and others with Spanish MiCA/CASP authorisation.

Do crypto-to-crypto swaps trigger tax in Spain? +

Yes. A swap (BTC for ETH) is treated as a disposal of the BTC at EUR fair market value on swap date. The gain/loss is taxable as savings income. The ETH acquisition starts a new basis at the same EUR value.

How is staking and lending taxed in Spain? +

Staking and lending rewards are typically classified as "rendimientos del capital mobiliario" (capital mobiliario income) — a different income category from the disposal gain, but still at the savings-income rates (19%-28%). Fair market value at receipt date applies. Later disposal triggers a separate gain/loss event.

What happens if I don't declare? +

Penalties are substantial in Spain. Failure to declare Modelo 721 (if required): up to 150% of the undeclared amount plus base tax owed, plus up to €600,000 in fines depending on severity. Regular under-declaration of gains: 50-150% penalty on the unpaid tax plus interest. The Agencia Tributaria has accelerated crypto enforcement since 2022, using Modelo 172/173 data and international information exchange (OECD CRS extended to crypto under CARF).