Subject
Regarding cryptocurrencies or virtual currencies, section 5 of article 1 of Law 10/2010, of April 28, on the prevention of money laundering and the financing of terrorism ( BOE of April 29), introduced on the occasion of the transposition of Directive (EU) 2018/843 of the European Parliament and of the Council, of May 30, 2018, defines them as follows mode:
“5. Virtual currency means a digital representation of value that is not issued or guaranteed by a central bank or public authority, not necessarily associated with a legally established currency and that does not have the legal status of currency or money, but which is accepted as a medium of exchange and can be transferred, stored or negotiated electronically ."
Directive ( EU ) 2018/843 of the European Parliament and of the Council of 30 May 2018 amended Directive ( EU ) 2015/ 849, to add the legal definition of “virtual currency”, incorporated by the aforementioned Law 10/2010. However, it should be noted that Directive ( EU ) 2015/849 has recently been amended by Regulation ( EU ) 2023/1113, of May 31, to eliminate the definition of virtual currencies and incorporate the much broader term of “cryptoassets” that covers different types of virtual assets, among which would be “cryptocurrencies”, although said Regulation will be applicable from December 30, 2024. For its part, the concept of cryptoasset is defined in Regulation ( EU ) 2023/1114 (MiCA).
Taking into account this definition, virtual currencies ("cryptocurrencies") are considered, for tax purposes, as intangible assets , computable by units or fractions of units, which are not legal tender, that can be exchanged for other goods, including other virtual currencies, rights or services, if accepted by the person or entity transferring the good or right or providing the service, and that can be acquired or transmitted generally in exchange for legal tender .
Considering that each virtual currency has its origin in a specific computer protocol, different scope of acceptance, different liquidity, value and denomination, the different types of virtual currencies are different goods.
Information obligations related to holding and operating with virtual currencies
In order to improve tax control of taxable events that may arise from the possession of virtual currencies and the operations that could be carried out with them, as described in the previous point, Law 11/2021, of 9 July, of measures to prevent and combat tax fraud, modified the Personal Income Tax Law to incorporate certain information obligations that have been the subject of regulatory development in articles 39 bis and 39 ter of the RGAT , leading to the approval of models 172 and 173.
See in this regard Order HFP /887/2023, of July 26, approving form 172 "Informative declaration on balances in virtual currencies" and form 173 "Informative declaration on operations with virtual currencies", and establishing the conditions and procedure for their presentation ( BOE of July 29).
Likewise, the obligation to report on virtual currencies located abroad is developed, which has determined the approval of model 721.
For more information you can consult the following frequently asked questions document about these models.