The Spanish Treasury will notify almost a million taxpayers who use cryptocurrencies


During the period of the Income Campaign for the declaration of Personal Income Tax (IRPF), the Spanish Tax Administration Agency (AEAT) is preparing to issue some 948,000 preventive notices aimed at taxpayers who own cryptocurrencies. .

As Soledad Fernández, general director of the Tax Agency, pointed out in a press conference, the notices will be sent based on the information available to the organization about the sector. A statement with which he made it clear that the holders of bitcoin (BTC) and other cryptocurrencies “are in the crosshairs” of the authorities.

In this regard, Fernández indicated that the number of cryptocurrency holders that have already been identified almost doubles that of the previous year’s campaign, with a growth that they estimate at 189%. In 2023, 328,000 were sent and in 2022 there were 233,000.

The increase in notices is based on the information sent to collectors by financial entities and cryptocurrency service providers operating in Spain, which are required to report these transactions. The figures they handle show a substantial growth in operations carried out with cryptocurrencies and have allowed the AEAT to detect users in the sector.

According to the head of the Tax Agency, the receipt of the letters does not mean that they have detected any fraud. The function of correspondence is to remind people of pending obligations, in addition to informing that the Tax Agency has the data on the income that must be declared and knows who owns cryptocurrencies.

In that sense, since April 3, cryptocurrency users have already begun to receive reminders, which they share on social networks.

Cryptocurrency users are receiving notices like this, reminding them to pay taxes. Source: Twitter.

Fernández added that, throughout the campaign, they will also be sending messages to those who have already submitted the declaration modifying the information available to the Agency. This, in order for them to assess whether or not they should present “complementary information adapting to the AEAT database.”

With this, they are offered the possibility of making corrections and preventing “subsequent verification of the data from generating interest or the imposition of sanctions.”

As part of its information campaign, the Ministry of Finance also published a statement on April 4, remembering what the tax obligations are of crypto asset holders. It insists that the objective is to “strengthen control over this sector.”

The document cites the data that taxpayers must report, among which are cryptocurrency holdings on Spanish soil, as well as balances and all operations carried out in digital assets.

Added to these is the amount of cryptocurrencies stored abroad, if the balances exceed 50,000 euros. As CriptoNoticias has explained, all this information is reported through models 172, 173 and 721.

It should be noted that to develop collection activities during the Income Campaign which will be valid until next July 1the Tax Agency offers its officials a bonus of more than 125 million euros.

According to local media reports, the idea is to increase collections, since this year they have the goal of collect 45% more than last year.

It is expected that, to this end, the Agency will intensify taxpayer information and assistance projects, address the prevention and control of tax fraud and carry out the necessary actions to promote voluntary compliance.

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