Guide to Crypto Taxes in Spain for 2026

Yes. Every sale, swap, or payment in crypto is a taxable event in Spain. Crypto received through salary, staking, mining, or an airdrop is taxed on the day you gain control of it.

This guide covers individuals under Spain's common-territory rules, which the Agencia Tributaria (AEAT) administers. The Basque Country and Navarre run their own income tax systems.

Savings income brackets for 2025 onward (state and regional halves combined)

• 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: 30%

These rates are progressive. If you have €10,000 of taxable savings income, the first €6,000 is taxed at 19% and the remaining €4,000 at 21%, for €1,980 in tax. Interest, dividends and other savings income share these brackets with your crypto gains.

For the official rules, see Spain's personal income tax law, Ley 35/2006, and the Agencia Tributaria's Modelo 100 page. Crypto held abroad is reported on the Modelo 721, which is filed separately between January 1 and March 31.

General-income bracket (state + regional composite): Progressive state plus regional rates on general income such as salary or mining. The state scale runs from 9.5% to 24.5%. Depending on your region's scale, 2025 rates range from 17.5% to 54%.

Buying and holding cryptocurrency

Buying with euros and wallet-to-wallet transfers are not taxed.

Selling cryptocurrency

Selling ADA, BTC, or any token for euros realizes a gain or loss. Spain uses FIFO (PEPS) to identify units sold. For example, if you buy 1 ETH for €2,000 and later sell it for €3,000, you have a €1,000 capital gain, ignoring fees.

Mining and staking cryptocurrency

Staking rewards are savings income. They count as income from movable capital (rendimientos del capital mobiliario), valued at their market value in euros on the day you receive them. Mining income is usually taxed as income from an economic activity in the general base. A later sale of coins from either source is a separate capital gain or loss.

Crypto to crypto trades

Swapping one coin for another is a single exchange (permuta). Your gain or loss is the higher of the market value of the coin you give up or the coin you receive, minus the cost of the coin you give up. That value becomes the cost basis of the new coin. The result is savings income.

For example, if you bought BTC for €5,000 and later swapped it for ETH when the higher of the two market values was €7,000, you have a €2,000 gain before fees, and €7,000 becomes the cost basis of your ETH.

Receiving cryptocurrency as payment

Wages paid in crypto are employment income in kind, valued at market value, and your employer must make a payment on account (ingreso a cuenta). Freelance fees paid in crypto are professional income. They carry withholding (retención) when the payer is a business or professional in Spain. A later sale of the crypto can create a separate capital gain or loss.

Report crypto sales and swaps in the virtual currency section (monedas virtuales) of section F2 on Modelo 100. The program moves the net result into your savings base. Net losses can also offset up to 25% of your savings yields, such as interest and dividends, in the same year. Any remaining loss carries forward for the next 4 years and is applied in the same order. Savings losses never offset general income such as salary.

• Capital losses offset other capital gains in the same year first. Any excess can offset up to 25% of that year's savings yields, such as interest and dividends.

• Unused losses carry forward four tax years.

• Business mining losses offset general income within the normal rules.

• Free airdrops: taxed as a capital gain in the general base, at market value in euros on the day you receive the tokens. Selling them later is a separate savings gain or loss, and the value you reported on receipt becomes their cost basis.

• Promotional airdrops, such as tokens for sharing links, are taxed as a capital gain in the general base on the day received. Tokens received from an employer are employment income.

• Income from crypto lending or DeFi yield, including liquidity pool rewards, is savings income. It counts as income from movable capital, valued at market value in euros when you receive it.

• Spain has no published ruling on whether depositing tokens into a liquidity pool, or withdrawing them, counts as an exchange. Get advice from a tax adviser before you file.

Learn how to reduce your crypto taxes.

• The general corporate rate is 25% on taxable profit. Smaller companies pay lower rates, which Ley 7/2024 is phasing in year by year.

• Certified startups (empresas emergentes) pay 15% in their first tax period with a positive base and the three periods after it. Other new companies get 15% for the first positive period and the next one.

• Crypto inventories must follow the chosen cost-basis method consistently.

Since July 1, 2026, crypto asset service providers serving Spain need MiCA authorization from the CNMV or another EU regulator. The Bank of Spain closed its old crypto provider register on that date. Residents must file Modelo 721 if the crypto they hold with custodians outside Spain was worth more than €50,000 in total on December 31.

Paying with crypto is an exchange of the coin and can produce a gain or loss. The merchant recognizes euro revenue and charges VAT on the product or service, not on the crypto itself.

• Spain has no holding period benefit. A gain on any crypto sale or swap goes into the savings base whether you held the coin for a day or for years. Holding only delays the tax until you dispose of the coin.

• Harvest losses by December 31st. If you buy the same crypto back within one year after the sale, the loss may be deferred until you sell the coins you bought back. How this rule applies to crypto is unsettled, so check with a tax adviser before you rebuy.

• Donating crypto to a qualifying entity under Ley 49/2002 earns an income tax credit of 80% on the first €250 and 40% on the rest. That rises to 45% if you gave the same or more to the same entity in each of the two previous years. The deduction base is capped at 10% of your taxable base.

General income combines state and regional scales. For 2025, the top combined rate is 45% in Madrid and 54% in the Comunitat Valenciana. Crypto salary and mining income fall under these rates. Staking rewards are savings income.

The Agencia Tributaria receives data from Spanish exchanges, which report your balances and trades every January on Modelos 172 and 173. The EU's DAC8 directive also makes exchanges in other EU countries collect data on Spanish residents from 2026, so non-disclosure is risky.

• Buying crypto with fiat.

• Moving coins between your own wallets.

Gifts are taxed. The donor reports a capital gain on any rise in value up to the date of the gift, and a loss on a gift does not count. The recipient pays gift tax under the rules of their region.

With inheritances, the person who died owes no income tax on the gain. The heir may still owe inheritance tax, depending on their region's allowances and reliefs. The heir's cost basis is generally the value declared for inheritance tax, capped at market value.

The state wealth tax exempts €700,000 unless your region sets its own amount, plus up to €300,000 for your main home. The state scale runs from 0.2% to 3.5%. Each region can change the exempt amount, the rates and the rebates. Crypto is valued at market price on December 31.

Net wealth above €3 million can also owe the temporary solidarity tax on large fortunes, at 1.7%, 2.1% and 3.5%, after credit for regional wealth tax paid. A full Madrid or Andalusia rebate does not remove it.

Regional wealth-tax variations

Madrid and Andalusia apply a 100% rebate. Check your region's rules.

Keep invoices, exchange CSVs, wallet statements, dates, euro values and fees for all trades, swaps and rewards. Keep purchase records for as long as you hold the coin, and keep everything for at least four years after the filing deadline for the year you sell.

June 30th of the year after the tax year

File and pay Personal Income Tax with Modelo 100 (for example, June 30th 2026 for the 2025 tax year). If you pay by direct debit, file by June 25. You can split the payment 60/40, with the second part due by November 5.

March 31st of the year after the tax year

Submit Modelo 721 if the crypto you hold with custodians outside Spain was worth more than €50,000 in total on December 31. Wallets where you control the keys don't count. After your first Modelo 721, you only file again if that balance rises by more than €20,000, or if you sold or closed out holdings you reported before.

You will need full transaction histories, staking logs, DeFi yields, and any Modelo 721 confirmations.

• Log in to Renta Web.

• Open Modelo 100 and find the savings-income section.

• Enter each crypto sale or swap in the virtual currency section, one line per sale.

• Add staking and DeFi yield in the section for income from movable capital, mining in the economic activities section, and airdrops in the section for gains not derived from transfers.

• If your foreign custodied crypto was over €50,000 on December 31, make sure you filed Modelo 721 separately between January 1 and March 31.

• Submit and pay by June 30 of the year after the tax year.

Modelo 720 declaration and crypto

Modelo 720 no longer covers crypto. Use Modelo 721 for crypto held with custodians outside Spain.

Use the AEAT's Renta Web portal. Report Cardano or any other crypto gains in Modelo 100 under the savings-income section, and declare crypto held with custodians outside Spain in Modelo 721 if it was worth more than €50,000 in total on December 31. File Modelo 714 if you owe wealth tax, or if your gross assets are worth more than €2 million even when no tax is due. Pay any balance by the deadline.

For example, suppose you bought BTC for €4,000 and sold it for €6,500. Ignoring fees, your capital gain is €2,500. If you also realized €1,000 in crypto capital losses, your net gain would be €1,500, which goes into your savings base.

Pro tip
For more international crypto education, see our articles on crypto tax free countries and crypto tax in Portugal.