Spain has made significant progress in regulating cryptocurrency taxation. From the Modelo 721 reporting obligation to IRPF taxation of gains, the fiscal landscape is increasingly clear. This guide explains everything you need to know for 2025.
How crypto is taxed in Spain
Cryptocurrencies are treated as patrimonial assets in Spain. Gains or losses are integrated into the IRPF savings tax base at rates of 19% (up to €6,000), 21% (€6,000–€50,000), 23% (€50,000–€200,000) and 27% (above €200,000).
Unlike Germany, Spain has no time-based exemption: gains are taxable regardless of holding period.
Losses can be offset against gains in the same tax year, with any excess carried forward for four years.
Modelo 721: foreign crypto reporting
Since 2023, Spanish taxpayers with crypto on foreign exchanges worth more than €50,000 on 31 December must file Modelo 721.
This applies regardless of whether you made any transactions during the year. Modelo 721 is purely informational.
Staking, mining and airdrops
Staking rewards and mining income are treated as capital income or business income depending on the regularity and organisation of the activity.
Airdrops received without consideration are declared as a patrimonial gain at market value on the date of receipt.
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Try SafeTax for freeFrequently asked questions about crypto taxes in Spain
How much tax do you pay on crypto in Spain?
Gains are taxed in the IRPF savings base: 19% up to €6,000, 21% from €6,000 to €50,000, 23% from €50,000 to €200,000, and 27% above €200,000.
What is Modelo 721?
Modelo 721 is the informational declaration for virtual currencies held abroad, required when the value exceeds €50,000 on 31 December.
Can SafeTax generate the tax report for Spain?
Yes. SafeTax imports your transactions, applies FIFO and Spanish tax rules, and generates a report ready for your IRPF declaration.
Do I need to declare if I only bought and held crypto in Spain?
No. Simply holding does not trigger tax; a capital gain or loss arises when you transfer (selling for money, swapping for another crypto, or paying with crypto).
For how many years can I offset crypto losses in Spain?
Capital losses on crypto can be offset against gains of the same year and of the following four years.
Which forms must I file for crypto in Spain?
Gains are declared in the IRPF (Modelo 100). In addition, if you hold crypto abroad worth more than €50,000 on 31 December, you must file Modelo 721.
How are staking, mining and airdrops taxed in Spain?
Their treatment is subject to interpretation: they are often treated as income taxed in the general IRPF base (not the savings base), but the question is not fully settled. Keep records and check your case on the AEAT website.
Is there an anti-abuse (repurchase) rule for crypto in Spain?
Whether the 'homogeneous securities' rule — which defers counting a loss when you repurchase the same asset — applies to crypto is debated and not clearly resolved. If in doubt, check with the AEAT.
How much does SafeTax cost?
The crypto tax simulator is free to use. Generating a declaration-ready report for a given tax year is paid, with pricing based on your number of transactions; an optional subscription unlocks the Advanced simulator (lot optimisation and transaction-impact preview).
Is SafeTax tax advice?
No. SafeTax is an educational and declaration-support tool, not tax advice. Figures are computed from publicly available tax rules for each country; for your personal situation, confirm with a qualified tax professional.
What makes SafeTax different from other crypto tax tools?
SafeTax is privacy-first: every figure is computed in your browser and nothing is stored (zero data retention). It covers 19 countries with a calculation method specific to each, is available in 9 languages, and offers a free simulator to estimate your tax before you buy a report.
SafeTax provides tax declaration assistance tools but does not constitute personalized tax advice. Always consult a qualified professional for your specific situation. Tax information may evolve and varies by jurisdiction.