NO DECLARES tus Criptomonedas a HACIENDA sin saber ESTO | 100% LEGAL en 2024

Summary

This video explains why the Spanish tax agency (Hacienda) may notify individuals about their cryptocurrency holdings and what steps they need to take in the 2024 tax year. Key topics include understanding the reasons for receiving a notice, knowing when to declare crypto profits and losses, and how to check if your platform is reporting to Hacienda. It also clears up common misconceptions about the €50,000 reporting threshold and when platforms started sharing data. The video provides essential insights for managing crypto tax obligations in Spain, including tips on keeping crypto transactions anonymous.

Takeaways

• 😀 If you've received a notice from Hacienda about your cryptocurrency holdings, it's because the Spanish tax authority knows you have crypto, usually from registered platforms or bank transactions.
• 😀 There are three main reasons why Hacienda knows about your crypto: 1) Using a platform registered with the Bank of Spain, 2) Transferring money from your bank to a crypto platform, 3) Withdrawing crypto funds from a platform to your bank account.
• 😀 If you have gained or lost money from crypto transactions, you are obligated to report it on your tax return. You don't need to report it if you simply bought and held crypto without selling or exchanging it.
• 😀 Platforms registered with the Bank of Spain are required to inform Hacienda about your crypto holdings, including the specific assets and amounts you own.
• 😀 If you're unsure whether your crypto platform informs Hacienda, check if the platform is registered with the Bank of Spain and if it has its fiscal headquarters in Spain.
• 😀 Even if you have less than €50,000 in different platforms, you still need to report any gains or losses from crypto transactions on your tax return (regardless of the amount).
• 😀 The €50,000 threshold refers to the obligation to inform Hacienda about the value of your crypto holdings through the Modelo 721, not about declaring gains or losses.
• 😀 From April 25, 2023, crypto platforms must inform Hacienda about user transactions. If you traded before this date, the platform might not have shared your data with Hacienda.
• 😀 If you withdrew funds from a platform in August of the previous year but had no crypto left by the end of the year, the platform must still report the balance at the time of your last transaction to Hacienda.
• 😀 If you want to trade crypto anonymously and avoid Hacienda's notification system, be sure to use platforms that do not require identification and are not registered with the Bank of Spain.

Q & A

Why did I receive a notice from Hacienda about my cryptocurrency investments?

You received the notice because either you used a platform registered with the Bank of Spain, or your bank made a transfer to/from a cryptocurrency platform, which automatically triggers a report to Hacienda. Platforms are legally required to report cryptocurrency holdings to Hacienda.

Do I have to declare my cryptocurrency holdings and transactions to Hacienda?

Yes, if you have made any profits or losses from trading or selling cryptocurrencies, you are required to declare them. If you’ve simply bought and held crypto (without selling), you don't need to declare it unless your holdings exceed €50,000.

If I only bought and held cryptocurrency, do I need to report it to Hacienda?

No, if you only bought and held cryptocurrency and did not sell or exchange it, you generally do not need to report it, unless the total value of your holdings exceeds €50,000 as of December 31st or the average balance during the last quarter of the year.

What does it mean to declare 'profits and losses' in cryptocurrency?

Declaring profits and losses means reporting the difference between what you paid for a cryptocurrency and what you sold it for. If you made a profit or incurred a loss from any crypto transaction, it must be declared as part of your tax return.

Are there any thresholds that exempt me from declaring my cryptocurrency holdings?

Yes, if your total holdings across different platforms do not exceed €50,000 as of December 31st, or the average of the last quarter, you do not need to declare your holdings. However, if you’ve made profits or losses, these must still be reported.

Which platforms are required to report cryptocurrency holdings to Hacienda?

Platforms registered with the Bank of Spain, or those that have a fiscal presence in Spain, are obligated to report your cryptocurrency holdings to Hacienda. If the platform is not registered in Spain, they are not required to report, though Hacienda may request the information.

What should I do if I used a non-registered platform to buy or sell cryptocurrencies?

If you used a non-registered platform, you are not obligated to report your crypto holdings to Hacienda, as the platform is not required to inform them. However, if you make any profits or losses, you must still declare those.

What happens if I moved my cryptocurrency funds before 2023? Will the platform report it to Hacienda?

If you withdrew or moved your funds before April 2023, the platform may not have reported your holdings to Hacienda, as platforms only began informing Hacienda from that date. However, the platform could still be required to provide information if Hacienda requests it.

If I transferred crypto from my bank to a platform or vice versa, how does Hacienda know about it?

If you transferred funds from your bank account to a cryptocurrency platform or withdrew crypto back to your bank, Hacienda may have been informed because your bank is required to report transfers to platforms with known IBANs.

Do I need to declare if I have less than €50,000 in cryptocurrencies across different platforms?

No, if your holdings are below €50,000, you are not required to report them to Hacienda, as long as you are simply holding the cryptocurrencies and not making profits or losses from trading them. However, if you exceed this threshold, you must report it.