This year, the Tax Agency introduces new digital tax models for Income Tax (IRPF) regarding cryptocurrencies. Yes, I am aware of the changes. This year, the Spanish Tax Agency (Hacienda) has introduced new digital tax models for reporting income from cryptocurrencies. These changes aim to improve the tracking and taxation of crypto transactions, providing a clearer framework for taxpayers to report gains, losses, and other relevant activities. If you’d like more detailed information about the specific models or how to file them, feel free to ask!
We highlight the voice of our colleague, Paula Navarro, who points out that the submission of models 172, 173, and 721 in XML format has caused confusion and delays. I don’t experience issues myself, but it seems that many taxpayers and professionals may indeed be facing confusion and delays with the new XML format for submitting models 172, 173, and 721. These changes can be complex, especially with digital reporting formats, and it’s not uncommon for people to encounter difficulties. If you or your clients are facing issues with this, it might be helpful to consult a tax advisor or check for any updates from the Tax Agency.
Paula Navarro breaks down the obligation and procedure for submitting models 172 and 173, as well as the importance of cryptocurrency pricing for tax purposes.
Additionally, with the entry into force of the MiCA Regulation, services regulated by models 172 and 173 will require specific licenses. How will this impact the market? Let’s not forget about model 721, which must be submitted by taxpayers with cryptocurrency balances exceeding 50,000 euros. It’s crucial to stay on top of all tax obligations!
It’s important to note: model 721 does not include NFTs or coins deposited in certain virtual wallets.
Full article in Expansión by Alejandro Galisteo Domingo: enlace.
