Declaring cryptocurrencies to the Treasury is a problem for 70% of Spaniards


Key facts:
  • Most believe that the regulation of cryptocurrencies in Spain is difficult to understand

  • 50% of respondents consider it necessary to declare cryptocurrencies in income tax.

According to a study carried out by the Research Group of the Catholic University of Ávila, 70.2% of Spaniards have problems correctly declaring their cryptocurrencies before the Tax Agency. This is due to a series of confusions related to the process.

The figure was obtained through a survey that was applied to a statistical sample of more than 100 people who own crypto assets, mostly men between 20 and 35 years old. Its objective was to evaluate the level of knowledge and compliance with tax obligations related to cryptocurrencies in the Iberian country.

As the researchers explain, the questionnaire was applied at the beginning of 2024. It was developed with different types of questions that allowed us to determine that the perceptions of tax obligations vary among cryptocurrency holders.

Differences were also identified in the responses on how to comply with these obligations depending on the specific circumstances of the operations. Be it buying and selling or trading. Doubts are thus indicated about the obligation to declare or not the acquisition and possession of cryptocurrencies, and it is observed confusion between concepts such as market value and purchase value.

The investigation highlights the complexity of taxes surrounding cryptocurrency transactions in Spain, due to what is described as “lack of uniform regulation.” A situation that generates uncertainty “for both taxpayers and tax authorities.”

This results in almost half of the respondents (49.5%) not declaring any of their cryptocurrency operations. Additionally, 87.4% believe that tax agencies should provide more information and resources on cryptocurrency taxation, and that there should be clearer and more complete regulation.

In this way, 89.3% of respondents claimed to have very little or no knowledge about cryptocurrency taxes, despite actively participating in operations with this type of asset.

In that sense, 66% of Spaniards consider that the regulation of cryptocurrencies in Spain is confusing and difficult to understand. Hence, 41.7% of those surveyed think that tax regulation discourages investment.

The data also indicates a general lack of understanding and clarity about cryptocurrency tax regulations in Spain, leading to a significant proportion of people is not willing to comply with the associated tax obligations. However, 50% of those surveyed assure that it is necessary to make the declaration.

In conclusion, the study highlights the lack of clarity in the regulation of cryptocurrencies and the absence of consistent tax criteria, which generates uncertainty among taxpayers. As a consequence, the need for governments and international supervisory bodies to establish a specific regulatory framework to guarantee more effective and precise taxation of cryptocurrencies is insisted on.

Research agrees on the complexity of the declaration process

The results of this university team’s study are similar to those shown in a survey conducted by Binance and TaxDowm. As published in the media, 75% of Spaniards does not know how to declare your cryptocurrencies. This is due to the lack of clear information or the difficulty in calculating its value.

The results of these studies are presented in the framework of the beginning of the income campaign in Spain. The process to submit the declaration began this April 3 and will be valid until July 1.

As CriptoNoticias has reported, these doubts and confusions of taxpayers they are not new. Since 2021, when cryptocurrencies began to be included in tax returns, there have been indications about the complexity of the process.

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