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21 June 2021

Spain Prepares for Tax Returns Season With Crypto Traders in Sight – Bitcoin News

Spain Prepares for Tax Returns Season With Crypto Traders in Sight – Bitcoin News


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Spain nears the final day for its citizens to file their tax statements, and this year cryptocurrency traders are in the sights of tax authorities.

This year, the tax authorities are especially focused on cryptocurrency traders due to the enormous growth of the industry.

Spanish citizens that fail to file their statements can be sanctioned with fines.

The tax authority will now require trading data from Spain-based exchanges to systematically attack traders that don’t file their taxes.

Despite the improved oversight and the educative campaigns, most Spanish traders still don’t know what to do when it comes to filing tax statements.

This can potentially create a scenario where most crypto traders would have to pay tax fines in the future.

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